Gombe to raise N30bn from green bonds issuance

The Gombe State government has revealed plans to raise about N30 billion from the capital market through green bonds issuance.

The Governor, Muhammadu Inuwa Yahaya of Gombe State made this known at a closing gong ceremony at the Nigerian Exchange Limited (NGX) on Wednesday.

Speaking on the state’s drive to attract investments, the Governor said the state is ready to harness capital markets through green bonds.

“The capital market is the hiding place for any investor whether the government or private investor. That is why it matters, that is why there are resources and people that can manage and take it are making it. That is why we have decided to come,” he explained.

“We are expecting to raise about N30 billion for a start, we are breaking it into segments but that’s our intention and we are sure from what we saw and the acceptance we have gotten from the floor, we are going to hit our target,” Yahaya said.

The Governor boasted of the state’s ranking in the enabling business index.

According to him, “We are top from 2021 to 2022 in terms of enabling business environments and we are in the of the masses that have access to the market and we are number one state in terms of peace and cordiality in Nigeria. So, we have every reason and ground to invite investors knowing that there is security and return on their investment.”

He added that the green bond is an initiative aimed at raising funds in order to finance environmental and eco-friendly investments especially in assets that will contribute in the restoration and upliftment of human life so that we can reduce the impact of climate change.

He said the reforms introduced in the market stimulated by the actions of the president and the stock market have also made it easy for investment in the capital market.