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The Debt Management Office (DMO) of Nigeria said that a total of N25.69 billion had been raised through sovereign green bonds from December 2017 to June 2019. The funds had been deployed to seven selected projects including renewable energy, agriculture, water, transport, and afforestation.
A total of N615.557 billion had been raised through Sukuk from September 2017 to December 2021. Sukuk is an Islamic financial certificate that complies with Islamic religious law commonly known as Sharia. It involves how corporations or governments raise capital and the forms of investments that are made following Shariah. The proceeds of Sukuk have been deployed for the rehabilitation and construction of new roads across the country in four years.
A total of N615.5 billion has been raised through Sukuk as at December 2021, N365.5 billion of which has been deployed for the construction of 1,881km of roads and six bridges. The last Sukuk issued in December 2021 targets building 71 road projects.
The other source for raising funds was Green bonds which are financial instruments to finance green projects and provide investors with regular or fixed-income payments. The instrument has become an important tool to address the impacts of climate change and related challenges.
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The organization has deployed N365.557 billion for the construction of 1,881km of roads and six bridges across the nation. A total of N25.69 billion green bonds have been raised through Sovereign Green bonds since December 2017 and have been deployed to seven selected projects in various sectors including renewable energy, agriculture, water, transport and afforestation.
