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The Nigerian Green Bond Market Development Programme (NGBMDP) aimed to develop a non-sovereign green bond market in Nigeria between 2018 and 2021. The programme successfully facilitated the issuance of 4 corporate green bonds and 2 sovereign green bonds, raising a total of ₦58.51 billion in sovereign issuances and ₦32.83 billion in corporate issuances. Key achievements include the training of over 500 capital market professionals, the development of mandatory Nigeria Green Bond Guidelines by the SEC in December 2018, and the certification of local verifiers such as Rubicola Consulting Limited and Agusto & Co. Limited. The programme also supported the launch of the FMDQ Green Exchange in November 2021 to improve transparency and ESG reporting. Despite these gains, the report notes that the market remains in its infancy, with a heavy reliance on public sector financing and a need for a larger pipeline of bankable green projects.