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NIGERIAN GREEN BOND MARKET
The market for sustainable instruments in Nigeria, particularly green bonds, has developed steadily over the last five
years. There appears to be increased investor interest in green bonds.
Nigeria issued a maiden 10.69-billion-
naira ($30 million) green bond with a In 2019, North South Power Company (“NSP”)
five-year tenor in 2017 to fund projects Limited, a pan African power generation
to develop renewable energy. company, issue its first N8.5billion 15-year
15.6 percent Series 1 Guaranteed Fixed Rate
Senior Green Infrastructure Bonds, due 2034 4
1 2
3 Access Bank Plc listed its N15 billion
5-year 15.5% Fixed Rate Senior
The second tranche of the FGN Green Bond Unsecured Green Bond, on the
in 2019 was oversubscribed by N17.93bn, Nigerian Stock Exchange (NSE) and
total value of subscriptions received was FMDQ OTC Securities Exchange, due
N32.93bn, representing 220% of the N15bn in 2024.
offered.
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