Sanwo-Olu woos investors on Lagos Green, conventional bonds

 







 Gov. Babajide Sanwo-Olu of Lagos State on Friday urged private investors to continue to have confidence in his administration’s capacity to deliver critical infrastructure for the benefit of residents.


Sanwo-Olu made the call at an Investor Forum on the proposed issuance of the state’s maiden N14.1 billion Green Bond and a N200 billion Conventional Bond under the N1 trillion Debt and Hybrid Instruments Issuance Programme.


“We have the capacity to deliver more infrastructure if we have more funds at our disposal. Inflation and costs will always go up; the best time to invest is now,” Sanwo-Olu said.


The governor said Lagos offered enormous opportunities for growth and development, noting that successive administrations had built on each other’s successes.


“I assure investors of the security of their funds. Lagos remains a safe haven for investments,” he added.


The Commissioner for Finance, Mr Abayomi Oluyomi, also urged investors to subscribe to the bonds, stressing that the state had demonstrated fiscal responsibility since its first bond issuance in 1987.


“We have shown consistency and responsibility with debts over the years. We have the capacity to repay. This issuance is another step to accelerate our development agenda,” Oluyomi said.


Chairman of the Lagos State House of Assembly Committee on Finance, Mr Femi Saheed, said the assembly supported the bonds issuance and would ensure proper oversight.


“The House is fully behind these bonds and will monitor the projects to guarantee that funds are properly utilised,” Saheed said.


NAN reports that the maiden N14.1 billion Green Bond has a five-year tenor to finance climate-impact projects in line with global Sustainable Development Goals (SDGs).


The N200 billion Senior Unsecured Conventional Bond has a 10-year tenor and will fund 24 projects, including rail, roads, waterfront infrastructure, housing schemes, hospitals and agro-produce hubs.



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