Sanwo-Olu seeks investor’s support as Lagos unveils N214.8bn Bond Issuance Plan

Governor Babajide Sanwo-Olu has called on private sector investors to continue to support his administration’s infrastructure development drive as Lagos State rolls out a new bond programme aimed at financing critical projects across the state.

Governor Sanwo-Olu made the call while speaking at an Investor Forum in Lagos, presenting details of the proposed issuance of a maiden ₦14.8 billion Green Bond and a ₦200 billion conventional bond, both under the state’s ₦1 trillion Debt and Hybrid Instruments Issuance Programme.

The governor assured potential investors of the state’s financial credibility and its unwavering commitment to development, stressing that Lagos had both the track record and capacity to deliver on key infrastructure projects if adequately funded.

This was just as he noted that Lagos had maintained a tradition of continuity, with successive administrations building on past achievements, reiterating the security of investor funds.

“There are enormous opportunities in Lagos for sustainable growth. With more funding, we can do a lot more. Inflation and rising costs will always be a factor, but your investment today secures tomorrow’s progress,” he assured.

The State Commissioner for Finance, Mr. Abayomi Oluyomi, in his welcome address, highlighted the state’s longstanding fiscal responsibility, noting that Lagos had, since it first entered the bond market in 1987, maintained a consistent record of debt repayment and project delivery.

“We are not new to the market. We have a solid reputation for managing our debt obligations responsibly and using the proceeds for their intended purposes,” the commissioner said.

Chairman of the Lagos State House of Assembly Committee on Finance, Hon. Femi Saheed, expressed the legislature’s full backing of the bond issuance, assuring investors that the House would closely monitor the execution of all projects funded through the bond to ensure transparency and accountability.

According to details shared at the forum, the ₦14. 8 billion green bond will have a 5-year tenure and will be channeled into environmentally focused, climate-impact projects aligned with global Sustainable Development Goals (SDGs).

The ₦200 billion conventional bond will have a tenure of 10 years and will be used to fund 24 large-scale projects across various sectors.

These include transportation infrastructure such as rail and roads, waterfront development, affordable housing schemes, healthcare facilities, agro produce hubs, and other high-impact initiatives aimed at improving the living standards of Lagosians.

The bond issuance forms part of the Lagos State Government’s broader strategy to attract private capital into public infrastructure and maintain its position as Nigeria’s leading sub-national economy.

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