Sanwo-Olu, Popoola To Strengthen Lagos State, NGX Partnership
BY CHINYERE OBIORA, LAGOS – Lagos State Governor Babajide Sanwo-Olu has given assurance that the State government will explore capital raising through Nigerian Exchange Limited (NGX) to fund infrastructure projects through Equities, Green, Sukuk, and Blue Bonds.
He has also expressed confidence in the opportunities available in the capital market while indicating interest to deepen synergies between the State and The Exchange.
The Governor, who spoke when the Board and Management of NGX led by the Chief Executive Officer, Mr. Temi Popoola, visited his office, said the Lagos State government is ever ready to make the environment conducive for businesses operating the state.
In his remarks, Mr Popoola said; “At NGX, we are eager to reaffirm our commitment to collaborating with Lagos State Government on its infrastructure development drive through our 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.”
According to Popoola, “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.
“We, therefore, look forward to exploring more opportunities especially in infrastructure financing, environmental and climate bonds, and capacity building.”
The NGX Board members present at the meeting were, Mr. Kamarudeen Oladosu, Mr. Seyi Osunkeye, and Mr. Yomi Adeyemi.
