Gombe State lists ₦30bn green bond on NGX

The Gombe State government has taken a significant step towards sustainable development by listing a 30-billion-naira green bond on the Nigerian Exchange. In a recent interview with CNBC Africa, the State Governor, Muhammad Inuwa Yahaya, revealed that an initial 15 billion naira will be raised through this green bond to finance key infrastructure projects in the state. This move is not only a milestone for Gombe State but also sets a positive precedent for other states in Nigeria looking to fund sustainable initiatives. Governor Yahaya emphasized the importance of leveraging the capital market to raise funds for projects that have a long-term positive impact on the environment and society. He highlighted that the green bond issuance aligns with the state's commitment to environmental sustainability and economic development. The listing of the green bond on the exchange signals a growing trend towards sustainable financing in Nigeria. It demonstrates a shift towards environmentally conscious investment opportunities and showcases Gombe State's dedication to addressing critical infrastructure needs while promoting green initiatives. This strategic move by the Gombe State government is expected to attract both local and international investors who are increasingly prioritizing environmentally sustainable projects. The successful issuance of the green bond will not only enable Gombe State to advance its infrastructure agenda but also position it as a leader in sustainable finance within the country. Key Points: 1. Commitment to Sustainable Development: The decision to list a green bond reflects Gombe State's strong commitment to driving sustainable development and addressing critical infrastructure needs while fostering environmental stewardship. 2. Accessing Capital Markets for Green Finance: By leveraging the capital market through the issuance of a green bond, Gombe State is tapping into a growing trend of sustainable financing and attracting socially responsible investors. 3. Setting a Positive Precedent: The listing of the green bond on the Nigerian Exchange sets a positive precedent for other states and entities in Nigeria to explore green financing mechanisms for funding vital projects that promote economic growth and environmental preservation. In Governor Yahaya's own words, 'Our decision to list a green bond is not just about raising funds; it's about making a statement that Gombe State is committed to sustainable development. We are excited about the potential impact this will have on our infrastructure projects and the environment.' The successful listing of the 30-billion-naira green bond on the Nigerian Exchange marks a significant milestone in Gombe State's journey towards a more sustainable and environmentally conscious future. It underscores the state's proactive approach to leveraging innovative financing solutions to drive inclusive growth and advance key development priorities. As the state embarks on this green finance initiative, it sets an inspiring example for others in Nigeria to follow suit and embrace sustainable investment practices for a brighter and greener tomorrow.