• Tuesday, February 27, 2024
businessday logo

BusinessDay

Gombe eyes N30bn from green bonds issuance

Gombe State government plans to raise about N30billion from the capital market through green bonds issuance.

Governor Muhammadu Inuwa Yahaya of Gombe State noted this on Wednesday at the Nigerian Exchange Limited (NGX).

He said Gombe State wants to use the fund to finance some projects in Gombe. 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 markets through green bonds.

Governor Muhammad Inuwa Yahaya visited The Exchange to explore how the state can harness the capital market through green bonds to stimulate sustainable development.

“We are expecting to raise about N30billion 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.

According to him, 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.

Speaking on the reason they choose the capital market as the best place to raise funds for investment in Gombe state, he said “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 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.

The governor encouraged investors to come and invest in Gombe state, noting that the state remains an investment destination for all.

“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”.