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Infrastructure projects: Lagos eyes NGX for funds

The Executive Governor of Lagos State, Babajide Sanwo-Olu, has said that the state will explore capital raising via Nigerian Exchange Limited (NGX ) to fund infrastructure projects through Equities, Green, Sukuk and Blue Bonds. Sanwo-Olu further expressed confidence in opportunities available at the capital market and indicated interest in deepening synergies between the state and the Exchange. This was highlighted during a courtesy visit by the Board and Management of NGX led by the Chief Executive Officer, Mr. Temi Popoola, to the Governor’s Office, yesterday.

NGX Board members present at the meeting were Mr. Kamarudeen Oladosu, Mr. Seyi Osunkeye and Mr. Yomi Adeyemi. Speaking during the visit, Mr. Popoola stated: “At NGX, we are eager to reaffirm our commitment to collaborating with Lagos State Government on its infrastructure development drive through our robust platform available to fund strategic objectives.

“This is particularly important to us given the critical position Lagos state occupies as the Centre of Excellence and the major economic hub in Nigeria and sub- Saharan Africa. “NGX has always been a strong collaborator through which the state accesses long-term developmental funding from the capital market evidenced by the N224.54 billion Lagos State Bonds listed on NGX – cumulatively the largest subnational bond listed on the NGX platform.

 

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