Economy
UN Deputy Scribe Urges Developing Countries to Embrace Green Bond
By Modupe Gbadeyanka
Deputy Secretary-General of the United Nations, Mrs Amina Mohammed, has advised developing countries to take advantage of the Green Bond market in financing some projects.
The former Nigeria’s Minister of Environment said her experience of the Green Bond in Nigeria was an “exciting initiative to use, to leverage, the implementation of the Nationally Determined Contributions (NDC).
Mrs Mohammed, while addressing members of the press in New York on Tuesday, noted that the “sovereign Green Bond, which will be the first ones issued at the end of March in emerging countries is very exciting, and I think that the model that should be taken there is that countries themselves need to go through a process that strengthens integration and that they institutionally can then rise to the opportunities of other financing coming into the international Green Bond market.”
She described the initiative as “huge”, stressing that it has “brought in a lot of the private sector into this, in a way, I think, that is constructive and gets government providing the enabling environment but the private sector really taking things to scale.
“It has to be about jobs and our economies improving in Africa, so yes, I do think that that is important.”
The UN Deputy Scribe also used the occasion to express her total commitment to the vision of the Secretary General of the global body, Mr
António Guterres.
Mrs Mohammed, while thanking Mr Guterres for the privilege to work with him, said she will be “focusing primarily on helping (her boss) to reposition sustainable development at the United Nations and as he has stated, sustainable development is an end in itself but it is also the best way that we feel that we can achieve universal peace.”
She further stated that, “I’m attaching great importance to the promise of leaving no one behind, so starting with those that are furthest behind, really looking to see how we can address that in a robust manner that brings everyone into the sustainable development agenda, addressing gender barriers that we’ve seen constantly; that we have achieved some success in that, not enough.
“We need to go to scale at this point. We also need to empower youth, agents of peace and development.
“I can say that in the recent 15 months that I have been home, after helping to shape the 2030 Agenda, youth have been the greatest challenge that we have faced but also the greatest potential to finding solutions for peace and development.
“I will be supporting the SG in the comprehensive review of the UN development system; this will be in close consultation with Member States.
“We have the advantage that the three major agendas that we agreed in 2015, were really from an inclusive process where Member States owned it and lead on it.
“And so supporting them to get an ambitious response at the country level is one that I believe will have a much easier task than we would have had previously, so therefore, those consultations will be given utmost priority.
“We shall become as the United Nations much more fit for purpose.”
Commenting on the $4 billion famine drive, Mrs Mohammed said, “We need to be ahead of the curve and not behind it, and so we do press for the support we need in those four countries.
“This famine is not just going to be limited to them if we don’t address it in a very urgent way. I think that the results that we saw in Oslo recently are warming and I think that this is showing that there is a way forward on some of this.
“We need to listen to some of the issues that were raised there.
“Again, bringing agencies and partnerships together in a much more coordinated and coherent manner, will help us get further, leveraging resources from different constituencies now, different partnerships in a global agenda, this is becoming more complex, but it is bringing in more returns and so again, we are not taking our foot off the urgency pedal, it is really urgent that we get much more, much more quickly, but so far the [outings?] have proved to be positive.”
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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