Lagos State Governor, Babajide Sanwo-Olu, has urged private investors to maintain their confidence in his administration’s ability to deliver critical infrastructure that will transform the state and improve the quality of life for residents.
The governor made this appeal on Friday during the Investor Forum held in Victoria Island, where Lagos unveiled plans for its maiden ₦14.1 billion Green Bond and a ₦200 billion conventional bond. Both offerings form part of the state’s ₦1 trillion Debt and Hybrid Instruments Issuance Programme aimed at driving sustainable development.
Sanwo-Olu explained that the state had the capacity to achieve more if granted access to greater funding, pointing out that inflation and rising costs made urgent investment in infrastructure inevitable.
“Lagos has enormous opportunities for growth. Successive administrations have built on each other’s successes, and I assure you that your funds are secure. With more resources, we can deliver more projects for our people,” he said.
Chapel Hill Denham’s Chief Executive Officer, Mr. Bolaji Balogun, who is leading the issuance process, described Lagos as a reliable debtor with a strong repayment record. He noted that the state had consistently shown fiscal discipline and transparency, which reassured investors of its credibility.
The Investor Forum brought together leading bank executives, pension fund administrators, and industry leaders. Deputy Governor Dr. Obafemi Hamzat, along with members of the State Executive Council, attended the event to demonstrate government backing for the initiative.
Commissioner for Finance, Mr. Abayomi Oluyomi, highlighted that since Lagos’ first bond issuance in 1987, the state had consistently maintained debt responsibility and repayment commitments.
In the same vein, Chairman of the Lagos State House of Assembly Committee on Finance, Mr. Femi Saheed, pledged legislative support and promised investors that the projects funded through the bond issuance would be closely monitored.
According to the state government, the ₦14.1 billion Green Bond, with a five-year tenor, will focus on climate-impact projects aligned with the Sustainable Development Goals.
Meanwhile, the ₦200 billion conventional Senior Unsecured Bond, with a 10-year tenor, will fund 24 major projects, including rail and road infrastructure, housing estates, hospitals, agro-produce hubs, and waterfront development.