The new board was unveiled during a closing-gong ceremony in Lagos on Wednesday to commemorate the eighth Green Bond Advisory Group Meeting.
A statement from the NGX said that the launch of the impact board followed approval from the Securities and Exchange Commission.
During the ceremony, the Minister of Environment, Balarabe Lawal, who is the co-chair, Green Bond Advisory Group Meeting, engaged with investors and stakeholders on the proposed Federal Government Green Bond issuance,
In his comments, Lawal said “With issues like flooding, pollution, and deforestation, we urgently need funds to tackle them. This is why we are approaching the market.”
Present at the event were the Director-General of the SEC, Dr. Emomotimi Agama, alongside delegates from the Debt Management Office, Ministry of Environment, issuers, and issuing houses.
While speaking, Agama affirmed SEC’s support, saying, “We are ready to bolster the sustainable finance market, aiming to deepen it with diverse instruments that contribute to Nigeria’s sustainable development.”
Group Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, highlighted NGX’s capabilities, stating, “We possess the capacity, resources, and technology to raise the funds required by the Federal Ministry of Environment and the Nigerian economy to achieve the goals outlined in the Paris Agreement and the Sustainable Development Goals.”
In April, Lawal revealed that the government will issue the third green bond to facilitate environmental financing. The government had in 2017 issued a maiden N10.69bn green bond with a five-year tenor to fund projects for the development of renewable energy.
With the successful first issuance in 2017, Nigeria became the first country in Africa to take such initiative. In 2019, the government announced its second green bond issuance of up to N15bn.
