The Federal Ministry of Environmentof Nigeria is in the process of launching a green bonds program. A process which had started in September of 2016 with a stake-holders forum that attracted key development partners, capital market operators and public sector institutions. The initiative has resulted in a plan to issue a programme of N150 billion in green bonds over the next few months. Collaboration between Ministry of Environment and Finance continues to pull together the institutional partners necessary to achieve what would be Nigeria and Africa’s first sovereign green bond and the world’s third.Besides, the issuance of the green bond will begin the process of greening the federal budget and the capital market. This highlights Nigeria’s commitment to achieving its targets in the NDCs. On the other, green bonds are a new financial product that expands the universe of capital market products available to fund the government’s annual budget. It would also establish a framework by which sub nationals and corporates can tap into the green bond market.