The planned N200 billion bond issuance by the Lagos State Government could provide fresh funding for critical infrastructure projects, including rail transport, bridges and hospitals, while offering investors another opportunity to earn returns from Nigeria’s domestic debt market.
The proposed offer, which forms part of the state’s N1tn Debt and Hybrid Instruments Issuance Programme, is expected to be issued as Series 5, according to investment firm Comercio Partners Capital Limited.
The issuance comes as Lagos seeks to finance infrastructure development in Nigeria’s commercial centre, where population growth, transport congestion and pressure on public services continue to increase demand for government investment.
Comercio Partners said the proceeds would be directed towards priority projects, including hospital construction under the state’s Ministry of Health, the Lagos Metropolitan Area Transport Authority’s Blue Line rail development and the Omu Creek Bridge project.
Beyond providing funding for these projects, the bond could help Lagos spread the
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