The Federal Government of Nigeria has announced plans to issue a ₦250 billion Sovereign Green Bond in October 2025, with an initial ₦50 billion issuance scheduled for late May, as part of renewed efforts to finance environmentally sustainable projects and meet global climate commitments.
The announcement was made by Minister of Environment, Balarabe Abbas Lawal, during the eighth edition of the Ministerial Press Briefing held in Abuja on Monday. According to the minister, the 2025 Green Bond program—Nigeria's largest to date—will be coordinated by the Debt Management Office (DMO) and will support projects in clean energy, sustainable agriculture, afforestation, and sustainable transport, all aligned with Nigeria's Paris Agreement goals.
"Nigeria was the first African country to issue a Sovereign Green Bond in 2017 with a ₦10 billion issuance, followed by a second ₦15 billion bond in 2019. These new issuances represent a significant step forward," Lawal stated.
Tackling Environmental Threats
Minister Lawal also highlighted the ministry's intervention in ending a long-running gas flare that had devastated communities and local ecosystems for four years.
"Before we came, the gas was burning for four years—destroying the ecosystem, destroying the livelihood of the people in that area," he said.
He stressed the importance of Environmental Impact Assessments (EIAs), warning that no government agency is permitted to execute a project without undergoing the required environmental scrutiny at least a year in advance.
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Key Environmental Projects and Programmes
Lawal outlined several key projects and initiatives:
- West Africa Coastal Areas (WACA) Programme: Supported by the World Bank, this initiative is designed to assist seven coastal Nigerian states in tackling erosion and flooding challenges.
- SPESSE Project (Sustainable Procurement, Environmental and Social Standards Enhancement): A programme aimed at strengthening national capacity in sustainable environmental and social practices.
- Bamboo Development Projects: A bamboo processing factory in Kogi State is already underway, with feasibility studies ongoing for seven other states—Ogun, Cross River, Kaduna, Edo, Benue, Ekiti, and Taraba.
- Forestry and Anti-Deforestation Measures:
- The Nigeria Customs Service recently handed over 11 containers of confiscated logs, reinforcing efforts to curb illegal logging.
- Agroforestry initiatives and the REDD+ forest carbon program are being advanced to promote climate-smart land use.
- A national tree-planting campaign and participation in the Trans-African Great Green Wall project aim to combat desertification and land degradation.
Climate Education and Policy
Lawal also mentioned the implementation of a national climate change policy, approved by the Federal Executive Council on April 24, 2024. He emphasized the urgent need for public education, especially in rural communities, on the environmental cost of deforestation and unsustainable land practices.
"The kind of things we do now, particularly in rural areas, depletes our forests," he warned.
Government Transparency and Public Engagement
Minister of Information, Mohammed Idris, who hosted the briefing, reaffirmed the federal government's dedication to transparency and citizen engagement.
"We will continue to demonstrate our commitment, transparency, accountability, and public engagement," Idris stated. "All ministers will address the public before Democracy Day 2025."
