The Governor of Lagos State, Babajide Sanwo-Olu, has urged investors to support the state’s infrastructural development agenda by investing in the newly launched N214.8 billion bond.
Sanwo-Olu made the appeal at the Investor Forum on the issuance of the Series III Green Bond and Series IV Bond under Lagos State’s ₦1 trillion Debt and Hybrid Instrument Issuance Programme.
Lagos is no stranger to bond financing. In 1987, it became the first subnational in Nigeria to issue a revenue bond—a ₦30 million facility used to fund the Lekki Peninsula Scheme 1.
In the state’s 2025 Budget of Sustainability, set at ₦3.37 trillion, a total of ₦398.66 billion was earmarked for critical infrastructure. This will be financed through a mix of internal and external debt, highlighting the importance of debt instruments in achieving the state’s developmental goals.
Speaking at the forum, Governor Sanwo-Olu stressed the need for continued private sector partnership to provide infrastructure required to meet the demands of Lagos’s rapidly growing population and expanding economy.
