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By Kayode Olopade
Lagos State Governor, Babajide Sanwo-Olu, has signed the state’s Series III Green Bond, reaffirming his administration’s commitment to delivering sustainable and climate-friendly infrastructure projects across the state.,
The bond, valued at N14.815 billion at a coupon rate of 16.00%, forms part of the state’s N1 trillion Debt and Hybrid Instruments Issuance Programme. At the same event, the governor also signed the Series IV Conventional Bond, raising N230 billion at 16.25%, underscoring the government’s broader strategy to access long-term funding for critical developmental initiatives.
Speaking at the signing ceremony, Sanwo-Olu described the Green Bond as a landmark achievement in Lagos’ long-term sustainability agenda. He said the level of investor interest in both instruments demonstrated strong confidence in the state’s governance structure, credit profile, and economic direction.e
He noted that the funds would be channeled into key infrastructure projects aimed at improving transportation, urban renewal, environmental resilience, and the overall quality of life for Lagos residents.
“Our commitment to sustainable financing is unwavering,” the governor said. “This Green Bond is more than a financial instrument; it is a testament to our vision for a cleaner, more resilient and forward-looking Lagos.”
The Commissioner for Finance, Mr. Abayomi Oluyomi, also highlighted that the successful bond issuance—oversubscribed by investors—illustrates Lagos State’s steady fiscal discipline and transparency. He added that the new funds will drive high-impact projects that align with the Lagos State Development Plan (2022–2052).
With this issuance, Lagos remains the only sub-national government in Nigeria to issue a Green Bond, further solidifying its leadership in innovative financing for sustainable development.
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