How Nigeria raised N30bn through green bonds — Buhari

President Muhammadu Buhari has urged the world's most vulnerable countries to follow Nigeria's approach to fundraising for climate change adaptation by using homegrown resources. The country raised more than NGN30bn ($83.3m) by issuing two sovereign green bonds.

Speaking at a roundtable in Doha, Qatar, Buhari said domestic resource mobilisation offered a more flexible funding mechanism that was likely to succeed in breaking the cycle of difficulty accessing funds from the financial institutions of developed countries. He warned that climate change posed a danger to the existence of humanity and urged other countries to follow Nigeria in passing "novel climate change" legislation to promote sustainable and inclusive green growth.

Nigeria is focusing on land remediation as part of its contribution to the Pan African Great Green Wall initiative while developing a programme to support adaptation and mitigation of climatic vulnerabilities in the Sahel region. The country also recently hosted an international seminar on climate risk financing and insurance solutions.

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