Infrastructure Devt: Sanwo-Olu unveils ₦214.8bn bond, seeks investor support

By Olasunkanmi Akoni

Lagos State Governor, Babajide Sanwo-Olu, has announced plans for the issuance of a maiden ₦14.8 cardinal Green Bond and a ₦200 cardinal accepted bond, some nether the state’s ₦1 trillion Debt and Hybrid Instruments Issuance Programme.

Speaking astatine an Investor Forum successful Lagos connected Friday, Sanwo-Olu urged backstage assemblage investors to enactment his administration’s infrastructure improvement drive, which aims to concern captious projects crossed the state.

The politician assured stakeholders of Lagos’ fiscal credibility, stressing that the authorities has the way grounds and capableness to present connected cardinal infrastructure projects if adequately funded.

“There are tremendous opportunities successful Lagos for sustainable growth. With much funding, we tin bash a batch more. Inflation and rising costs volition ever beryllium a factor, but your concern contiguous secures tomorrow’s progress,” Sanwo-Olu said.

He emphasized Lagos’ contented of continuity, wherever successive administrations physique connected past achievements, and reiterated the information of capitalist funds.

Commissioner for Finance, Mr. Abayomi Oluyomi, highlighted Lagos’ longstanding fiscal responsibility, noting that since the authorities archetypal entered the enslaved marketplace successful 1987, it has maintained a accordant grounds of indebtedness repayment and task delivery.

“We are not caller to the market. We person a coagulated estimation for managing our indebtedness obligations responsibly and utilizing the proceeds for their intended purposes,” Oluyomi said.

Chairman of the Lagos State House of Assembly Committee connected Finance, Mr. Femi Saheed, pledged the legislature’s afloat enactment for the enslaved issuance, assuring investors that the House would show each funded projects to guarantee transparency and accountability.

According to details shared astatine the forum, the ₦14.8 cardinal greenish enslaved volition tally for 5 years and volition beryllium invested successful environmentally focused, climate-impact projects aligned with the United Nations Sustainable Development Goals (SDGs).

The ₦200 cardinal accepted bond, with a 10-year tenure, volition concern 24 large-scale projects crossed cardinal sectors including proscription (rail and roadworthy networks), waterfront development, affordable housing, healthcare facilities, and agro-produce hubs, among others.

The inaugural is portion of the Lagos State Government’s broader strategy to pull backstage superior into nationalist infrastructure and prolong its presumption arsenic Nigeria’s starring sub-national economy.

The station Infrastructure Devt: Sanwo-Olu unveils ₦214.8bn bond, seeks capitalist support appeared archetypal connected Vanguard News.