LASG Go Use N244.82b Bond Money For Key Sectors

Lagos State Government don announce say dem go channel di money from di recent bond issuance wey total N244.82 billion into key infrastructure development. Di funds go dey invested for sectors like transportation, housing, environmental sustainability, healthcare, and education to drive sustainable and inclusive growth for di state. Governor Babajide Sanwo-Olu, wey talk during di Ministry of Finance and Debt Management Office bond-signing ceremony, confirm say di state dey committed to responsible financial management and thank investors for dia confidence in Lagos. Di event mark di final stage for documentation of both di green bond and conventional bond under di Lagos State N1 trillion Debt and Hybrid Instruments Issuance Programme. Sanwo-Olu also recall say di first bond wey dem issue for 2020, about N100–110 billion, set benchmark, and each new issuance don pass di previous record.

Di governor describe di latest issuance as another milestone, adding say Lagos don successfully issue Nigeria first subnational green bond, raise N14.815 billion from total bids of N29.29 billion, with N27.79 billion dey within advised pricing. Di green bond align with THEMES+ Agenda and Lagos long-term goal of building resilient, environmentally sustainable city. Di Series Four conventional bond, wey target N200 billion, draw N310.06 billion in bids, with N304 billion within advised range, allow Lagos raise N230 billion. Sanwo-Olu talk say dis na di biggest bond ever floated by any subnational government for Nigeria. Proceeds go dey strategically invested for transportation, housing, environmental sustainability, healthcare, education, and other key sectors to support sustainable and inclusive growth. Finance Commissioner Abayomi Oluyomi confirm say project selection for di bond dey deliberate, aligned with UN SDGs and dey create measurable environmental impact. Bolaji Balogun from Chapel Hill Denham praise Lagos’ strong position, while Temilola Akinrinade from British High Commission highlight say dual issuance show strong investor confidence for di state governance and reforms.