Awarenessinfomedia has gathered that in a landmark move, Lagos State Government has successfully listed its N14.82 billion 5-Year 16.00 percent Series 3 Fixed Rate Green Bond and N230 billion 10-Year 16.25 percent Series 4 Fixed Rate Bond on the FMDQ5 Securities Exchange Limited platform.
This dual-series approval marks a significant milestone in Nigeria's financial history, solidifying FMDQ Exchange's position as a premier platform for sovereign and sub-sovereign entities seeking long-term capital.
As Nigeria's commercial hub and one of Africa's largest subnational economies, Lagos State's access to long-term capital is crucial for its growth and development. With a population of over 20 million residents, the state is contributing approximately 30 percent of the nation's gross domestic product and hosting the largest concentration of businesses and financial institutions in the country.
The proceeds from this issuance will be used to fund critical infrafstructure development, sustainable projects, and strategic programmes aimed at enhancing the standard of living for Lagos State residents and sustaining the state's position as Africa's premier commercial destination.
The Series 3 Fixed Rate Green Bond is a significant milestone for Lagos State and Nigeria's sustainable finance ecosystem, aligning with global green bond standards. The bond's proceeds will be used exclusively for eligible green projects, including renewable energy, energy efficiency, clean transportation, sustainable water management, climate resilience, and environmentally responsible urban infrastructure.
This historic listing is a testament to Lagos State's commitment to sustainable development and its leadership in financing sustainable infrastructure, urban development, and public service delivery. The state's ability to mobilize long-term capital through debt markets and green finance will play a crucial role in addressing environmental challenges and infrastructure gaps in Nigeria.
The listing is also expected to boost investor confidence in Lagos State and Nigeria's debt market, demonstrating the state's commitment to transparency and accountability in its financial dealings. As other African sub-national issuers leverage debt markets and green finance, Lagos State's success is likely to pave the way for more sub-national governments to follow suit.
The N244.82bn bonds listing is sponsored by Chapel Hill Denham Advisory Limited, Registration Member (Listings) of FMDQ Exchange, and is expected to contribute significantly to Nigeria's infrastructure development and economic growth.
For Advert Placement, Publicity, Partnership, PR, and Brand Promotion. Call us on 08089056114 or chat with us on whatsapp via https://wa.me/+2348089056114
Awareness is everybody's duty. As you read the news, kindly share the news!
Post a Comment