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 (NGX: UBA) and Guaranty Trust Holding Company PLC (NGX: GTCO) 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 (NGX: ZENITHBANK) and Access Holdings PLC (NGX: ACCESSCORP), raising substantial amounts to meet new capital thresholds ahead of the March 2026 deadline. The Nigerian Exchange Group PLC (NGX: NGXGROUP)'s Managing Director, Temi Popoola, emphasized the importance of leveraging technology to enhance public sector financing and maintain market depth.