By Dosu Deborah Oluwatimilehin (SIWES student, Adeseun Ogundoyin Polytechnic Eruwa)
Governor Muhammadu Inuwa Yahaya of Gombe State has made history by becoming the first subnational leader in Nigeria to explore funding opportunities for green bond projects.
This initiative underscores his commitment to addressing environmental challenges through innovative financing mechanisms.
The funds from green bonds will support eco-friendly endeavors like waste management, water treatment, renewable energy, and sustainable agriculture.
Governor Yahaya convened meetings with a diverse array of investors, financial experts, and capital market professionals to discuss financing environmental projects via green bonds.
This proactive approach signifies the state’s dedication to harnessing capital markets for sustainable development.
It reflects a broader trend of subnational leaders in Nigeria embracing green financing alternatives.
These discussions took place at the Nigerian Exchange Limited (NGX) as part of the preparations for the upcoming Gombe State Investment Summit, Go-Invest 2.0. Scheduled for November 2024, this summit aims to attract investors and government officials to explore opportunities and foster sustainable development across sectors like agriculture, tourism, solid minerals, and infrastructure.
Governor Yahaya outlined key initiatives, including expanding afforestation programs and advancing solar energy projects, as pivotal components of the state’s sustainable development agenda.
The goal is to raise 30 billion naira through green bonds, initially targeting 15 billion naira to gauge performance before seeking the remainder.
Highlighting Gombe State’s agricultural potential and recent infrastructure developments like the Dadinkowa Hydroelectric Power Station and the Network Eleven-100 road network, Governor Yahaya emphasized the state’s commitment to creating an enabling business environment.
Political stability and security remain paramount to attract and retain investors.
Notable figures like Waheed Olagunju and Teni Popoola lauded Governor Yahaya’s efforts in infrastructure development and economic growth, affirming confidence in Gombe State’s trajectory.
The Governor’s participation in the ceremonial closing bell ringing ceremony at the Nigerian Exchange further symbolized his vision for the state’s prosperous future.
