Lagos N200bn bond oversubscribed
Lagos State has announced a 55 percent oversubscription on its ₦200 billion conventional bond issuance, with total bids reaching approximately ₦310 billion.
The state also floated a ₦14.8 billion Green Bond, which saw even stronger demand: it was oversubscribed by 97.7 percent, receiving around ₦29.29 billion in subscriptions.
Governor Babajide Sanwo-Olu said the strong interest reflects growing investor confidence not only in Lagos but also in Nigeria’s economic reforms. He linked this demand to recent macroeconomic reforms at the national level and praised private-sector partners for their belief in Lagos’s vision.
The proceeds from the bond issuances are intended to fund priority infrastructure projects under the THEMES+ Agenda, spanning transport, healthcare, education, and environmental sustainability.
