The Nigerian Exchange Limited (NGX) has announced plans to attract investments into Nigeria’s blue economy through the issuance of Blue Bonds.
Speaking in Lagos at the quarterly citizens and stakeholders’ engagement organised by the Ministry of Marine and Blue Economy, NGX Chief Executive Officer, Jude Chiemeka, said the initiative would be undertaken in partnership with the ministry to mobilise funding for maritime activities.
According to him, the bond will be issued through the Ministry of Finance on behalf of the Ministry of Marine and Blue Economy, with proceeds channelled into projects covering aquaculture, maritime security, and other key areas of the sector.
“We recognise that government budgetary allocations might not be enough, and because there are investors, both international and domestic, who are looking for instruments aligned with Environmental, Sustainability and Governance (ESG) objectives, Blue Bonds clearly meet these requirements,” Chiemeka said.
He explained that domestic Pension Fund Administrators (PFAs), who manage about N25 trillion, could invest up to five percent of their assets to support the bond issuance.
Chiemeka added that the success of Green Bonds previously issued by both the private sector and the Federal Government—often oversubscribed—underscored confidence that Blue Bonds would record similar results.
The initiative is expected to deepen Nigeria’s capital market while providing sustainable financing for infrastructure and development in the blue economy.
