N36bn Green Bond Targets 19 Projects In Environment, Power, in Nigeria

N36bn Green Bond Targets 19 Projects In Environment, Power, in Nigeria

The Minister of Environment, Mrs Amina Mohammed has disclosed that
Nigeria’s N36 billion Green Bond would attract about 19 projects in
the Environment, Agriculture and Power Sectors as well as the Federal
Capital Territory (FCT). This is even as she emphasized that the
environment project would address reforestation through Jatropha
plant; smart agriculture, biofuel/ Jatropha via agriculture sector;
off-grid solar/REMU through the Power sector and energy efficiency
transportation in the FCT.

The minister stated this in Morocco last week at Nigeria Side event on
Exploring Alternate Sources of Funding Climate Change Initiatives:
Sovereign Green Bonds and the Role of the Private Sector in the Green
Economy in Nigeria. The Minister of Environment, Mrs Amina Mohammed
has disclosed that Nigeria’s N36 billion Green Bond would attract
about 19 projects in the Environment, Agriculture and Power Sectors as
well as the Federal Capital Territory (FCT).

She said that the process of project selection cuts across the
existing sectors adding that the interventions are owned by the
sectors while the resources were part of the existing plans. According
to her, “The project selection places Nigeria in a position to focus
on the NDC’s which is the end point the ministry is keen to deliver
because it will also build capacity within partner ministries on the
relevance of environment to project development, funding and impact.

Mohammed further disclosed that Nigeria is committed to saving about
476 metric tonnes in emissions reduction adding that World Bank had
indicated interest to support the provision of specialists that would
assist in detailing the selected projects. Speaking at another side
event on, Preparation of African Countries for Measurement, Reporting
and Verification (MRV) Requirements under the Paris
Agreement-Showcases and Lessons Learnt”, organized by the European
Union, the Minister noted that Nigeria would underscore the importance
of Paris Agreement by implementing the decisions.

Speaking at another side event on, Preparation of African Countries
for Measurement, Reporting and Verification (MRV) Requirements under
the Paris Agreement-Showcases and Lessons Learnt”, organized by the
European Union, the Minister noted that Nigeria would underscore the
importance of Paris Agreement by implementing the decisions.

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