By Esther Onyegbula
Lagos—The Securities and Exchange Commission, SEC, said yesterday that the country’s infrastructure deficit would hit 878 billion dollars by 2040 and called for active utilisation of green bond for infrastructural gap.
Ms. Mary Uduk, SEC Acting Director-General, said this at the 2018 annual workshop organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos.
She said Nigeria should tap into green bond opportunities, adding that the commission would continue to promote an active enabling and regulative environment for its issuance.
“The future holds opportunities for renewable energy, energy efficiency, infrastructure, food, agriculture and the task ahead is to ensure funds are channeled to green projects with multiple socio-merits,” Uduk said.
She said there must be more domestic participation in green bonds investment for Nigeria to claw its way out of deficit in infrastructure, power and energy, transportation and eliminating environmental degradation.
Uduk, who was represented by Head, Registration, and Market Infrastructure Department, SEC, Mr. Emomotimi Agama, said it was necessary for Nigeria to stand at the forefront of innovations and initiatives.
She said that the second tranche of green bonds which had been issued presented an opportunity for the country to solve its infrastructural deficit.