FG Floats 2 Green Bond of 10.6 Billion Dollars -Nnaji

Hon. Minister of, Innovation Science and Technology, Chief Uche Geoffrey Nnaji
Hon. Minister of, Innovation Science and Technology, Chief Uche Geoffrey Nnaji

Minister of Innovation, Science and Technology Chief Uche Geoffrey Nnaji said that the Federal Government has floated 2 Green Bonds of 10.6 Billion Dollars and 15 Billion Dollars in the 1st and 2nd tranches respectively for the development of Energy sector in Nigeria.

According to Chief Nnaji the 3rd tranche with a threshold of 50 Billion Dollars targets, projects with clear environmental benefits and promote the transition to low carbon and climate resilient growth which includes climate mitigation and adaptation. This, no doubt opens additional investments initiatives under Nigeria’s Energy Transition Plan, where the bond Holders and Issuers, beneficiaries, suppliers, manufacturers and a host of other value chain activities, generate enormous Investment Opportunities.

Chief Geoffrey Nnaji said this, at the official unveiling and popularization of the gazettes on the National Energy Policy and National Energy Master Plan held in Abuja recently.

He further said that National Energy Masterplan has been developed to capture all factors germane to the balanced and coordinated development of the sector, which includes energy demand, supply, production, processing, research and development, training and manpower development among others, necessary for enhancement of Technological advancement of the nation.

Nnaji reiterated that by the gazette, Government policy directions are documented and holds significant importance for general application and official recognition by the Government, Nigerians and other stakeholders.

To this end, the Minister commended the Commission for achieving this milestone which is an opportunity to enhance Nigeria’s Energy Policy standard, facilitate investments in the Energy sector and promote transition from fossil based to low carbon options.

Earlier, the Director-General, said that the policy document is a guide for investors, development partners and scholars as well as providing understanding of government policies and directions to all stakeholders.

He assured Nigerians and stakeholders that the Commission will continue to utilize viable energy resources for sustainable socio- economic development and growth of the Country.

To this end, Mustapha called for unflinching support of both local and international stakeholders for the desired achievement of the Commission’s mandate.


Atuora Obed O.
DD Press and Public Relations Unit