Nigeria’s Sovereign Green Bond oversubscribed by 183%, says DMO

The Debt Management Office (DMO) has announced the successful conclusion of its third Sovereign Green Bond issuance, which was oversubscribed by 183%, with total subscriptions reaching ₦91.42 billion.

In a statement on Thursday, the DMO said the Offer, which closed on Wednesday, June 18, 2025, targeted ₦50 billion and represents the third green bond issuance by the office on behalf of the Federal Government.

According to the DMO, the strong investor interest reflects confidence in Nigeria’s growing green bond market and its commitment to climate action, sustainable finance, and development goals.

A total of ₦47.36 billion was allotted to investors at a coupon rate of 18.95% per annum, the office confirmed.

Proceeds from the issuance will be used to finance climate-friendly projects listed in the 2024 Appropriation Act, aligned with Nigeria’s Nationally Determined Contributions (NDCs) under the Paris Agreement and the goal of achieving net-zero emissions by 2060.

DMO Director-General, Patience Oniha, said the strong demand demonstrates increasing trust in Nigeria’s sustainable financing strategy.

“Green Bonds are becoming an important tool for mobilising capital toward our climate objectives and development agenda,” Oniha noted.

The DMO added that the green bond programme contributes significantly to deepening Nigeria’s domestic capital market and reaffirms its commitment to supporting environmental and economic sustainability.