In a bold move to scale up its climate response, Nigeria has announced the launch of a fresh N50 billion Sovereign Green Bond, reinforcing its commitment to environmentally sustainable development and the global climate agenda.

The announcement was made during an investor engagement session in Lagos on Monday, where the Director-General of the Debt Management Office (DMO), Patience Oniha, described the bond as a critical milestone in Nigeria’s journey to finance climate-resilient infrastructure and support its Nationally Determined Contributions (NDCs) under the Paris Agreement.

“This is the amount, this is the tenor, and very importantly, this is what we intend to do with the funds,” Oniha said.

This third green bond series follows previous issuances in 2017 and 2019 that raised a combined N25.69 billion. The new five-year bond, targeted primarily at institutional investors with a minimum subscription of N10 million, will be listed on the FMDQ platform.

Beyond investment opportunity, Oniha emphasized transparency and accountability in deploying the funds. “We must allow institutional investors to ask questions, reflect, and begin their internal approval processes. This is not just fundraising; it is about our national commitment to sustainability,” she said.

Dr. Iniobong Abiola-Awe, Director at the Department of Climate Change in the Federal Ministry of Environment, underscored the urgency of the initiative, citing the devastating local impacts of climate change, including worsening floods, desertification, and unpredictable weather.

“The impact is evident in shifting weather patterns, extreme heat, disappearing Harmattan, rising floods, and desert encroachment,” Abiola-Awe stated. “Nigeria is shrinking geographically, and we have no planet B. What we do today is a debt or gift to the next generation.”

She noted that Nigeria remains committed to cutting greenhouse gas emissions by 20% unconditionally and up to 47% with global support. The bond, she added, is a key component of a larger framework that includes the 2021–2030 Climate Change Policy, the Energy Transition Plan, and a suite of renewable energy and conservation initiatives.

Projects funded under previous bond issuances span agriculture, energy, and transportation sectors, with visible outcomes already contributing to Nigeria’s climate adaptation and mitigation efforts.

“These projects, many of which were initiated with the first issue in 2019, demonstrate our progressive movement in mitigating climate change within Nigeria,” she said.