President Muhammadu Buhari has said the Federal Government (FG) will launch the first African Sovereign Green Bond in December 2017, to finance renewable energy projects, THISDAY reports.
Buhari said this in Abuja on Tuesday while presenting the 2018 Budget Proposal to the National Assembly. “I am pleased to inform this distinguished assembly that the Federal Government will be launching the first African Sovereign Green Bond in December 2017.”
“The bond will be used to finance renewable energy projects. We are very excited about this development as it will go a long way in solving many of our energy challenges, especially in the hinterland,’’ the president said.
He also said the FG was working hard on the Ogoni Clean-up Project and added that although the project would be funded by the International Oil Companies, the FG had made provisions in the 2018 Budget for the costs of oversight and governance, to ensure effective implementation.