FG to delay N20bn green bond sale until 2017 budget passed

 
MINISTER of state for environment, Ibrahim Usman Jibril has said federal government will delay the issuance of a green bond until the 2017 budget has been passed.
Jubril while speaking with journalist in Abuja after Federal Executive Meeting (FEC) today said, “all is set for its formal launch but the budget has to be passed first before the issuance,”
Federal government had planned to launch the N20 billion bond in April to fund projects to reduce carbon emissions and develop renewable energy.
Announcing the plans in February, the environment ministry said the programme was aimed at widening Nigeria’s funding options and diversify the OPEC member’s oil-dependent economy, which is the largest in Africa.
The budget which was first presented to lawmakers by President Muhammadu Buhari in December must be approved by National Assembly before it can be signed into law by the president.
Lawmakers have resolved to pass the 2017 budget more swiftly than last year when wrangling between parliament and the presidency delayed the spending plan being passed in to law for months.