Nigeria's Debt Management Office has listed its N47.36 billion Series III Sovereign Green Bond on the NGX and FMDQ Securities Exchange. The bond carries an 18.95 percent interest rate and is set to mature in June 2030. This financial move aims to increase liquidity and price transparency for investors while funding green projects that support the country's transition to a low-carbon economy.
Log in to join the discussion
Nigeria is listing another green bond for about 47 billion naira. It is meant for low carbon projects, but the article does not list a single specific project being funded.
Exactly. Without a project list, it is just a debt instrument with a green label. I want to know if this is going into transmission upgrades or just small scale solar that does not move the needle.
The 18.95 percent rate is the real story here. High yields attract investors, but the cost of capital for these green projects is steep. It makes the actual delivery of climate goals more expensive.
Listing on NGX and FMDQ helps with liquidity, but the impact depends on the reporting standards. Hope they provide a clear framework for how the funds are tracked.
