By Samiat May, 15, 2025 Featured
FCMB Powers Nigeria’s Clean Energy Future with N11.85bn Bond for Mini-LNG Project— Over 2,500 Jobs to Be Created! ⚡️
News Breakdown:
FCMB Capital Markets Limited has taken a major step toward transforming Nigeria’s energy landscape by successfully leading the issuance of a ₦11.85 billion, 10-year Series 2 Senior Guaranteed Infrastructure Bond. The bond, issued on behalf of GLNG Funding SPV Plc, will fund the development of a mini-Liquefied Natural Gas (LNG) plant in Nigeria.
The proposed LNG facility is designed to handle a liquefaction capacity of 200,000 standard cubic meters of gas per day. This project will provide industries with a cleaner, cost-efficient alternative to diesel, supporting Nigeria’s broader goal of achieving a sustainable energy transition.
A key feature of this bond issuance is the credit enhancement provided by InfraCredit, a AAA-rated infrastructure guarantee institution, which helped boost investor confidence and ensured the success of the transaction.
Job Creation & Economic Impact:
According to InfraCredit, the project is projected to generate over 500 direct jobs and more than 2,000 indirect jobs during construction and operational phases. This move significantly supports Nigeria’s economic recovery and job creation agenda.
Investor Confidence & Market Leadership:
FCMB Capital Markets’ Managing Director, Ikechukwu Omeruah, emphasized that the strong investor participation reflects growing faith in Nigeria’s gas infrastructure and its clean energy direction. He reiterated the firm’s commitment to financing impactful, sustainable projects and unlocking long-term value in vital sectors.
Cost Savings for Industries:
The push for gas as an energy source is increasingly being embraced due to its affordability and environmental benefits. A 2022 Clarke Energy report highlighted that Nigerian manufacturers could save up to 30% by switching from the grid to gas, and up to 80% compared to using diesel generators.
Track Record of FCMB Capital Markets:
A subsidiary of FCMB Group Plc, the firm has raised over ₦3 trillion in debt and equity capital over the last five years, positioning itself as a trusted partner for high-impact capital market transactions.
Previous Clean Energy Support:
It’s worth noting that in 2024, First City Monument Bank also launched a clean energy initiative offering up to ₦30 million in funding to help households and small businesses procure solar panels, inverters, and batteries.
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