The Debt Management Office (DMO) has revealed that from December 2017 to June 2019, sovereign green bonds were used to raise a total of N25.69 billion.
The monies were allocated to seven chosen projects in a variety of industries, including reforestation, agriculture, water, and renewable energy, according to DMO Director-General Patience Oniha.
She also mentioned that from September 2017 to December 2021, a total of N615.557 billion has been raised through Sukuk.
Green bonds are financial products that support environmental projects and offer fixed or recurring income to investors.
The device has grown into a crucial tool for addressing the effects of climate change and other problems. Similar to that, a Sukuk is an Islamic financial document that complies with Sharia, or Islamic law.
It concerns the methods used by businesses or governments to raise funds as well as the types of investments undertaken in accordance with Shariah.
The DMO said that the N615.557 billion collected through Sukuk has been used for the rehabilitation and construction of new roads across the nation in four years while speaking to capital market journalists in Lagos.
She disclosed that N365.557 billion had been used to erect six bridges, 1,881 kilometers of roads, and other infrastructure around the country.
In her talk, she said: “Nigeria Public Debt – Some Considerations,” Oniha said: “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.”
“For Sukuk, 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 71 road projects.”
Oniha mentioned the repair of the Bida-Lambata road in Niger State, the rehabilitation of the Lagos-Ota-Abeokuta route in Lagos and Ogun States, and the rehabilitation of the Enugu-Port Harcourt road segment III in Enugu State’s Lokpanta.
Other projects include, among others, Phase I of the renovation of the Kano-Katsina road in Kano State and Section II of the Enugu-Port Harcourt dual highway in Umuahia-Aba, Abia State.
In her talk, she said: “Nigeria Public Debt – Some Considerations,” Oniha said: “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.”
“For Sukuk, 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 71 road projects.”
Oniha mentioned the repair of the Bida-Lambata road in Niger State, the rehabilitation of the Lagos-Ota-Abeokuta route in Lagos and Ogun States, and the rehabilitation of the Enugu-Port Harcourt road segment III in Enugu State’s Lokpanta.
Other projects include, among others, Phase I of the renovation of the Kano-Katsina road in Kano State and Section II of the Enugu-Port Harcourt dual highway in Umuahia-Aba, Abia State.
