Monday, February 27, 2017 01.44PM / Otto Abasiekong, Proshare WebTV
The Federal Government through the Ministries of Environment, Finance and the Debt Management Office, recently organized a summit on “Green Bonds: Investing in Nigeria’s Sustainable Development”, preparatory to the planned N20bl Green Bond to be floated on the Nigeria stock exchange, by the end of the first quarter of 2017.
At the Nigeria stock exchange, venue of the event the Acting President Prof. Yemi Osinbajo, described the summit as a strategic way deployed by the government to engage the domestic market, in mobilizing funds for sustainable projects.
The Ministers in attendance Mrs Amina Mohammed(Environment), Mr Babatunde Fashola (Power, Works and Housing) and Alh Mohammed Bello(FCT) in their dialogue, all shared how the Green bonds will impact their ministries and the economy at large.
Projects to be financed by the proposed N20bl Green Bond include the following;
Energizing Education Program
The project is estimated to cost $213ml according to the Minister of Works, Power and Housing Mr Babatunde Fashola (SAN) will provide a total of 119mw of power(60% of which is solar) to 37 universities and 7 teaching hospitals.
Solar Unit Distribution Program
This will cover 20 states of the federation and will have great impact on about 100,000 people in the country. It is expected to reduce emissions by 580 tonnes per annum. The estimate is N1.3bl and it will distribute 20,000 solar units which will in aggregate provide up to 0.02MWs of power.
Renewable Energy Micro-Utilities
This project which is geared towards providing 45 communities in the country, with renewable energy will cost N10bl.
Bus Rapid Transport
For the Federal Capital Territory (FCT) Abuja about N4.4bl will be funded from the Green Bonds, for the Bus Rapid Transport system in the Zubar-Suleja corridor in Abuja. It will provide up to 350 new jobs and impact about 325,000 persons in the area. The project will reduce 42,000 tonnes in emissions per annum.
For the Ministry of Environment, the project is estimated to cost N2.8billion and will involve the planting of 1,800 hectares of economic trees in 26 states across the nation. This will create about 5,000 jobs, impact 500,000 people and reduce 11,700 tonnes in emissions.