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By Chinwendu Obienyi
The Lagos State Governor,, Babajide Sanwo-Olu, has said that Lagos State is looking to explore capital raising via Nigerian Exchange Limited (NGX) to fund infrastructure projects through equities, green, sukuk, and blue bonds.
Sanwo-Olu made this known during a courtesy visit of the Board and Management of NGX led by the Chief Executive Officer, Temi Popoola, to the Governor’s Office on Thursday. He further expressed confidence in the opportunities available in the capital market and indicated an interest in deepening synergies between the state and the exchange.
Responding to Sanwo-Olu’s comment, Popoola stated that the NGX is open to collaborating with Lagos State government on its infrastructure development drive through the exchange’s robust platform available to fund strategic objectives. “This is particularly important to us given the critical position Lagos state occupies as the Centre of Excellence and the major economic hub in Nigeria and Sub-Saharan Africa. NGX has always been a strong collaborator through which the state accesses long-term developmental funding from the capital market evidenced by the N224.54 billion Lagos State Bonds listed on NGX – cumulatively the largest subnational bond listed on the NGX platform.
