The Governor of Lagos State, Babajide Sanwo-Olu, has called on investors to support the infrastructural development drive of the state through investing in the newly launched N214.8bn bond.
Sanwo-Olu made the call at the Investor Forum on the Series III Green Bond and Series IV Bond Issuance under the 1 trillion Debt and Hybrid Instrument Issuance Programme.
Lagos is no stranger to bonds, being the first subnational to issue a revenue bond in Nigeria, a N30m bond issued in 1987 to fund the Lekki Peninsula Scheme 1.
In the state’s 2025 Budget of Sustainability set at N3.37tn, the sum of N398.66bn had been budgeted for critical infrastructure to be financed through a combination of internal and external debt, reinforcing the importance of debt financing solutions.
Speaking at the investor’s forum, Sanwo-Olu called for continued support from the private investors towards the development of the state in the provision of infrastructure needed to keep up with the ever-increasing population and the size of the economy.
