Lagos State Issues N244.822bn Bond for Infrastructure Development

Lagos State has expanded its development financing by issuing a N244.822 billion bond, with a significant portion allocated to a green bond. This marks a milestone as Nigeria's first subnational green bond issuance.

The bond attracted substantial bids, exceeding the target amount. The state also issued conventional bonds as part of its debt hybrid instrument issuance program.

The success of these issuances reflects investor confidence in Lagos State's financial management and commitment to long-term development and green initiatives.