Lagos, Feb. 1, 2024: Gombe State Government on Wednesday sought partnership with Nigerian Exchange Ltd. (NGX) to raise not less than N30 billion from green bond to finance eco-friendly investments.
Gov. Muhammad Yahaya of Gombe State said this at the closing gong ceremony of the NGX in Lagos.
Yahaya stated that the green bond is an initiative aimed at raising funds to finance eco-friendly investment, especially in asset.
He noted that this would contribute to improve and uplift human lives, in order to reduce the impact of climate change and global warming.
“We are expecting to raise about N30 billion for a start, and then raise more in segments in the next few months.
“We are sure that from the acceptance we received from the floor of the Exchange and stock broking community, we are going to hit our target,” he said
According to him, the capital market is the ideal place for any investor, either government or private, to raise funds, because there are financial experts that can help manage the funds for value in the future.
Yahaya stated that the stock market has also become very robust, following reforms introduced by the market, which was stimulated by the actions taken by President Bola Tinubu’s administration.
The governor said that the Nigerian Stock market is a key player globally, and as such, Gombe state is confident that with the alliance and support of other international players in the market, it can achieve its goal.
He charged investors to tap into the investment opportunities and selling point in Gombe because of its track record and outstanding achievements, to get a profitable return on investment.
According to Yahaya, Gombe has been leading many other states since 2021 in terms of enabling business environment.
The governor said that the state is relatively peaceful, “being the number one state in terms of peace and cordiality in Nigeria and also at the centre of
“We give guarantee of the security of our investors, and also the security and return on their investment,” he said.
Rrsponding, Mr Temi Popoola, General Managing Director (GMD)/Chief Executive Officer (CEO), Nigerian Exchange Group, expressed the delight of the market to host Gombe state officials, led by the governor.
Popoola noted that the market is open for all classes of businesses, while assuring the governor of the stock market community’s readiness and support to drive the green bond.
Mr Jude Chiemeka, Acting CEO, NGX, said that the NGX is curently the most performing Exchange in the world and has been helping corporates and government to raise capital over the years.
Chiemeka stated that the exchange is committed to partnerships, both locally and internationally.
He lauded the Gombe state government for setting the pace for other states to follow.
The NGX boss explained that the essence of the partnership was to ensure that any party who sought the support of the Exchange to raise capital was able to do so.
“This is because we have a robust investor-base to absorb all the issues that are being raised in our market,” he said.
According to him, the market raised over N1 trillion from Sukuk bond for the governments that utilised the market.
Chiemeka noted that customer-centricity is a cardinal point for the Exchange, hence all its customers across the world will always get the best services.