Nigeria’s commercial nerve centre and West Africa’s economic hub, Lagos State today marked a milestone in funding critical components of the cityscape development as the Executive Governor, Gov. Babajide Olusola Sanwo-Olu signed the Green Bond Series III and IV investments. Both investments got over NGN 300 billion in total, TheMediaGood Newspaper can report. The event was attended by the Deputy Governor, Dr. Kadri Obafemi Hamzat and other top government officials in Lagos State.
Gov. Babajide Olusola Sanwo-Olu stated: ‘Today, we signed the ₦14.815B Series III 16.00% Green Bond and the ₦230B Series IV 16.25% Bond under our ₦1T Debt and Hybrid Instruments Programme.’
‘Today shows what is possible when investors believe in Lagos. We set out to raise ₦14.815B for the Green Bond and received ₦29.29B in bids. For the Series IV Bond, our ₦200B target drew ₦310.06B in bids. Altogether, both issuances attracted ₦339.35B. That confidence is not something we take lightly.’
‘The Green Bond is especially meaningful because it is the first of its kind issued by a sub-national in Nigeria. It supports our THEMES Agenda, especially our work on environmental protection, climate resilience, and creating a safer Lagos for future generations.’
‘The Series IV Bond will strengthen critical areas like transport, housing, healthcare, education, and urban renewal. These are investments that touch real lives, not just numbers on a page.’
He expressed his gratitude, ‘I am grateful to everyone involved, the Lagos State House of Assembly, the financial advisers, the issuing houses, the regulators, our civil service team, and above all, the investors who continue to place their trust in us.’
‘We will keep working with transparency and accountability. Every kobo entrusted to us must lead to real improvements for our people. Together, we are building a Lagos that is resilient, inclusive, and competitive’, he concluded.