Checkout The Breakdown Of The N100billion Bond That Gov Sanwo-Olu Signed For Infrastructure Projects

The breakdown of the N100billion bond which Gov Babajide Sanwo-Olu earlier signed this week has been made available to the public.

It was reported earlier in the week that the Lagos State Government borrowed a sum of N100bn from the bond market. The bond which was signed and approved by the Lagos State Governor, Mr. Babajide Sanwo-Olu said the money will be used for infrastructure and other development of the state.

The governor while signing the bond series said,

I signed a N100 billion Bond series III, under the State Government’s N500 billion Bond issuance programme. We have embarked on a journey to activate prosperity for our state and give our people hope.

The Bond, which was oversubscribed at 196.5% is the biggest of its kind by a subnational entity and validation of investors’ confidence in Lagos State and her strong credit profile. With this Bond, we are poised to roll out our infrastructural projects.

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Our administration remains unwavering and ready to make Lagos a functional state for business and for our people.

Ever since the bond was signed, no one has access to the details of the bond or what the monies will be used for, all we know is that the bond will be used for infrastructural projects.

BudgIT was able to get the breakdown analysis of the N100billion bond and what the money will be used.

These are the breakdown of the N100billion Infrastructural project signed by Gov. Babajide Sanwo-Olu