The Nigerian Exchange Group (NGX) is poised to deepen its support for the burgeoning marine economy sector by targeting it for a focused bond issuance program. This innovative move aligns with Nigeria’s broader commitments to sustainable development and blue economy financing.
The initiative, announced in collaboration with the Ministry of Marine and Blue Economy, aims to raise capital through labelled bonds, often called “blue bonds,” specifically designed to fund projects that protect and exploit marine resources sustainably. NGX CEO Jude Chiemeka explained that the bond issuance will be facilitated through the Ministry of Finance on behalf of the Ministry of Marine and Blue Economy.
The marine economy encompasses various sectors including fisheries, shipping, marine tourism, ocean energy, and marine biotechnology. Funding these sectors through bond issuance will provide a critical financial lifeline to support sustainable infrastructure, innovation, and climate-resilient projects.
This focus on the marine economy comes amid growing recognition of its potential to contribute significantly to Nigeria’s GDP and employment, especially for coastal communities. The bond issuance will also reinforce Nigeria’s leadership in environmentally sustainable finance, leveraging global investor interest in green and blue bonds.
NGX has been actively promoting sustainable finance in Nigeria through various initiatives such as its Sustainability Disclosure Guidelines and Impact Board. The marine economy bond issuance is expected to boost investor confidence, enhance market transparency, and channel private capital toward inclusive national growth objectives.
With the estimated global demand for sustainable investment increasing exponentially, NGX’s move to develop a dedicated bonding framework for the marine sector positions Nigeria at the forefront of blue economy development on the continent.
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