The Federal Government is set to issue a Green Bond worth N15bn to finance some projects in renewable energy, afforestation, and transportation.

In a statement issued in Abuja on Monday, the Debt Management Office said that the issuance of the bond was riding on the back of the first Green Bond issued by the Federal Government in December 2017.

The DMO said, “Following the Federal Government of Nigeria’s successful debut Green Bond issuance of N10.69bn in December 2017 by which Nigeria became the first African country to issue a Green Bond, the Federal Government of Nigeria is set to undertake a second issuance; a Series II Green Bond of up to N15bn.

“To ensure the success of the Series II Green Bond (“the Offer”), the Federal Ministry of Finance, Federal Ministry of Environment and the DMO will be engaging investors at respective roadshows in Lagos and Abuja on May 27 and 28.

“The Series II Green Bond issuance is a further demonstration of the Federal Government’s commitment to the reduction of greenhouse gas emissions by 20 per cent (unconditionally) by 2030, as outlined under the Paris Agreement signed on September 21, 2016.”

It added, “Through the offer, the Federal Government seeks to raise N15bn to finance projects with green credentials. These eligible green projects can be classified under three themes within the green bond framework, namely: renewable energy, afforestation, and transportation.

“Moody’s Investors Service has assigned a GB1 (Excellent) Green Bond Assessment to the offer.”

The DMO said that it was working with Chapel Hill Denham Advisory Limited, Capital Assets Limited, Rand Merchant Bank Nigeria Limited, and Stanbic IBTC Capital Limited, as financial advisers/issuing houses to the offer.