Governor Babajide Sanwo-Olu on Thursday announced a ₦214.8 billion bond issuance aimed at financing 24 major infrastructure projects across Lagos State, calling on private-sector investors to deepen their partnership with the government in shaping the state’s long-term growth.
The funding package, announced at an Investor Forum in Lagos, comprises a maiden ₦14.8 billion Green Bond and a ₦200 billion conventional bond, both issued under the state’s ambitious ₦1 trillion Debt and Hybrid Instruments Issuance Programme.
Governor Sanwo-Olu, pitching the state’s financial resilience and proven track record, assured investors of prudent management of funds and timely execution of projects.
“There are enormous opportunities for sustainable growth in Lagos. With additional funding, we can achieve much more. Inflation and rising costs will remain a challenge, but every naira invested today secures tomorrow’s progress,” he said.
The governor emphasized Lagos’ tradition of continuity in governance, noting that successive administrations have strengthened investor confidence by consolidating gains from previous projects.
Finance Commissioner Abayomi Oluyomi reinforced the message, highlighting Lagos’ history of fiscal discipline since it first tapped the bond market in 1987.
“We are not new to the market. Lagos has earned a reputation for prudent debt management and judicious use of bond proceeds for intended purposes,” Oluyomi said.
The Chairman of the House of Assembly Committee on Finance, Femi Saheed, pledged full legislative backing, promising rigorous oversight to guarantee transparency and accountability in project execution.
According to the state, the ₦14.8 billion Green Bond, with a five-year tenure, will finance climate-focused projects in alignment with global Sustainable Development Goals (SDGs). The ₦200 billion conventional bond, with a 10-year maturity, will support 24 major projects spanning transportation, waterfront development, housing, healthcare, and agriculture.
Officials stressed that the investment drive is not only about physical infrastructure but also about positioning Lagos as a competitive, future-ready megacity.
