Lagos State Bond Boosts Nigerian Exchange Listings to N754.82B

The Nigerian Exchange has recorded a total of N754.82 billion in new listings, including Lagos State's N244.8 billion bond issuance. On February 9, 2026, Lagos State listed a N230 billion Series IV 10-year bond at a fixed rate of 16.25%, part of a broader N1 trillion debt issuance program.

The federal government also recorded two listings valued at N4.18 billion in January 2026. Major corporate issuers like United Bank for Africa PLC and Guaranty Trust Holding Company PLC contributed significantly, with UBA raising N157.8 billion through a rights issue.

The Central Bank of Nigeria's mandate for banks to raise fresh equity has driven these capital increases, with ten banks, including Zenith Bank PLC and Access Holdings PLC, raising substantial amounts to meet new capital thresholds ahead of the March 2026 deadline. The Nigerian Exchange Group PLC's Managing Director, Temi Popoola, emphasized the importance of leveraging technology to enhance public sector financing and maintain market depth.