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By Felix Onuah
ABUJA, April 12 Nigeria will delay the issuance
of a green bond until the 2017 budget has been passed, the
environment minister said on Wednesday.
The government had planned to launch the 20 billion naira
($65.55 million) bond in April to fund projects to reduce carbon
emissions and develop renewable energy.
Announcing the plans in February, the environment ministry
said the programme was aimed at widening Nigeria's funding
options and diversify the OPEC member's oil-dependent economy,
which is the largest in Africa.
"All is set for its formal launch but the budget has to be
passed first before the issuance," Ibrahim Usman Jibril, the
minister of state for environment, told reporters in the
capital, Abuja, following a cabinet meeting.
The budget -- which was first presented to lawmakers by
President Muhammadu Buhari in December -- must be agreed by
parliament before it can be signed into law by the president.
Lawmakers have resolved to pass the 2017 budget more swiftly
than last year when wrangling between parliament and the
presidency delayed the spending plan being passed in to law for
($1 = 305.1000 naira)
(Writing by Alexis Akwagyiram; Editing by Alison Williams)