Impact of Green Finance on Green Infrastructural Development in Nigeria (1995 – 2022)

Abstract

The study examined the impact of green finance on green infrastructure development in Nigeria for the period 1995 to 2022. The dynamic least square (DOLS) econometric technique was employed for the estimation of data for the study, and the findings indicate that green bond (GB) and all share index (ASI) have significant positive impact on green infrastructure development; while agricultural contribution to GDP (AGRIC/GDP) and market capitalization (MCAP) have significant negative impact on green infrastructural development in Nigeria. The study recommends among others that, the government should strengthen the current level of green financing in the country by initiating appropriate policy to reposition green bond market thereby making it more attractive to investors.