New Telegraph

Gombe to Raise N30bn From Green Bonds Issuance

The Gombe State Government plans to raise a thirty billion naira in green bonds. Governor of the state, Alhaji Muhammadu Inuwa Yahaya, made this known on Wednesday when he visited the Nigerian Exchange Limited (NGX) to explore how the state can harness the capital market through green bonds to stimulate sustainable development. He said the state wanted to use the fund to finance some projects. The governor spoke to capital market community on the benefits of investing in the future of Gombe State, noting the state’s readiness to harness capital market through green bonds. The governor said: “The Green Bonds is an initiative aimed at raising funds in order to finance Eco-friendly and environmentally friendly investment especially in assets that will contribute to restoration and uplifting of human lives so that we can reduce the impact of climate change and global warming.

“We are expecting to raise about thirty billion naira, for the start, and may break it into segments. We are sure that with the support we saw and aqthe acceptance we have gotten from the floor, and from the key stakeholders, we are going to hit our target.” Alhaji Yahaya said the investment opportunities in the capital market were huge. “The capital market is the ideal place for any investor, either government or private. That is where there are resources. The capital market is very robust these days, especially with the reforms introduced by the market, stimulated by the actions of the president of the nation.

“The Nigerian stock market is really a key player globally, and with the alliance and support of other international markets, I think we are good to go. I was a party to the President’s event in New York when we went for the UN General Assembly, and you saw the positive result that came out of it. “For investors, I asked them to come to Gombe because the state is unique. Gombe has been making it. Knowing that we came top in two sequences from 2021, 2022, we came tops in terms of Enabling Business Environment, and we are in the centre of North-East, there is access to market and we are relatively peaceful.

“In fact, the number one state in terms of peace and cordiality in Nigeria,” he emphasised. On reason to invest in Gombe, he said the State was ranked based fifth out of 36 states on the following index assessed: accessibility, open budget, public procurement, human resources, anti- corruption and citizens engagement, saying Gombe still maintains its position as number one in ease of doing business in Nigeria. The Chairman of Nigerian Exchange (NGX) Group Plc, Dr. Umaru Kwairanga, said that Gombe State was one of the best investment destinations in the country as it is blessed with abundant human and natural resources.

“We have vast lands for agriculture and food production, almost every kind of mineral resources that you can think of, and a large hardworking populace,” he said. He also noted that the next growth engine of the world was Africa and is going to be led by Nigeria. The Group Managing Director/ Chief Executive Officer, NGX, Temi Popoola, appreciated the governor for his strong support for capital mar- ket advocacy and the ecosystem at large.

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