FG to raise N20 billion for renewable energy projects

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Amina Mohammed, Minister of Environment

The Minister of Environment, Mrs. Amina Mohammed, on Tuesday said that plans by the Federal Government to raise N20 billion by March this year to help fund renewable energy projects were still in place. Speaking at an event organised by Access Bank Plc to honour her appointment as the United Nation’s Deputy Secretary General designate in Lagos, Mohammed said that the government hoped to achieve this with the call being made on Nigerians to support its quest to issue a Green Bond.

Mohammed said the bond would be the first sovereign Green Bond in an emerging market, adding, “It is about leveraging external resources to support the renewable energy projects in the sector. We are on track to sell the bond in the first quarter, and could have another by the end of the year.

“Apart from funding the renewable energy projects, the sale will also help fund an electric vehicle commuter project in the city and tree-planting in Nigeria’s arid North.”

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