Lagos Unveils N214.8bn Bond Issuance Plan

Governor Babajide Sanwo-Olu connected Friday urged backstage assemblage investors to enactment his administration’s infrastructure improvement drive, arsenic Lagos State authorities rolled retired a caller enslaved programme aimed astatine financing captious projects crossed the state.

Speaking astatine an investors’ forum successful Lagos, Governor Sanwo-Olu presented details of the projected issuance of a maiden ₦14.8 cardinal greenish enslaved and a ₦200 cardinal accepted bond, some nether the state’s ₦1 trillion Debt and Hybrid Instruments Issuance Programme.

He assured imaginable investors of the state’s fiscal credibility and unwavering committedness to development, stressing that Lagos 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.

The politician noted that Lagos has maintained a contented of continuity, with successive administrations gathering connected past achievements and reiterated the information of capitalist funds.
The commissioner for Finance, Mr Abayomi Oluyomi, highlighted the state’s longstanding fiscal responsibility.

He noted that since Lagos archetypal entered the enslaved marketplace successful 1987 and 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, expressed the legislature’s afloat backing of the enslaved issuance.

He assured investors that the House would intimately show the execution of each projects funded done the enslaved to guarantee transparency and accountability.

According to details shared astatine the forum, the ₦14. 8 cardinal greenish enslaved volition person a five-year tenure and volition beryllium channeled into environmentally focused, climate-impact projects aligned with planetary Sustainable Development Goals (SDGs).

The ₦200 cardinal accepted enslaved volition person a tenure of 10 years and volition beryllium utilized to money 24 large-scale projects crossed assorted sectors.

These see proscription infrastructure specified arsenic obstruction and roads, waterfront development, affordable lodging schemes, healthcare facilities, agro-produce hubs, and different high-impact initiatives aimed astatine improving Lagosians’ surviving standards.