Nigerian capital market operatives on Tuesday proposed increasing Sukuk and Green bond investments, claiming that they can help the country’s economy grow.
“Sukuk and Green Bonds: More Than Just Investing”, a virtual event hosted by the Nigerian Exchange (NGX) Limited in cooperation with APT Securities and Funds Ltd. in Lagos, said Sukuk and Green Bonds provide an alternative to traditional investments.
According to Mohammed Adamu, Team Lead, Securities Issuance Unit, Debt Management Office (DMO), he said Despite the unstable global business climate caused by COVID-19 in 2020, Green Bonds climbed from 266 billion dollars in 2019 to 269 billion dollars in 2020.”
“Green bonds still account for around 1% of the outstanding bond market issuance,” he claims.
Sukuk and green bonds, according to NGX Chief Executive Officer Temi Popoola, have emerged as some of the safest investment portfolios in the last three years.
“According to the fixed rating, Sukuk issuance climbed by 13% year over year to 118 billion dollars at the end of Q4 2020, with nearly a third of it expected to occur between 2021 and 2023.
Furthermore, after a good run in Q2 of 2021, Sukuk issuance is likely to rise in 2021, owing to robust investor enthusiasm and issuer funding diversification needs.
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