Governor of Gombe State, Inuwa Yahaya announces that the state will give out a 30 billion naira green bond to fund many infrastructure projects in the state.
This was revealed on Wednesday on the trading floor of the Nigerian Exchange Limited
He said the state will provide an enabling environment for investors and also talked about Gombe’s desire to start issuing green bonds to make the initiative a success.
The purpose of our visit today is to show that we are ever ready to provide an enabling environment for investors. Seeing the success that the national government has had, Gombe will now show the way for other subnationals to float and see how best we can benefit from your services. For us to succeed, we need to have robust engagements. There is no other place you can do a proper engagement that is why we have come here. We have so many selling points as a subnational.”
Inuwa Yahaya
The Commissioner for Finance and Economic Development in Gombe State, Muhammad Magaji, said that approvals are already in the works and a date for the bond issuance is expected to be set before the end of the end of April.
The commissioner pointed out that the state has been recognized for two years in a row as the best place for doing business on the Ease of Doing Business Index.
The state has a reputation that gives the investors confidence as regards security, he stressed.
Green bonds are debt securities issued to finance or refinance projects that have a positive impact on the environment or climate.
These bonds are also known as climate bonds. They contribute to sustainable development initiatives.
The global green bond market gained traction in 2007, and the Federal Government of Nigeria has utilized green bonds to finance part of its budget deficit.
In 2020, the government raised 25 billion naira through green bonds, following 15 billion naira in 2019.
