Sanwo-Olu signs N137.3b bond to address infrastructure deficit | The Guardian Nigeria News

LAGOS BOND

Implores ‘one-day governor’ to keep Lagos flag flying

Governor Babajide Sanwo-Olu, yesterday, signed the necessary documents required by the Securities & Exchange Commission (SEC) to finalise the issuance of Lagos State’s N137.3 billion Fixed Rate Bond Series IV Bond Issuance.

Sanwo-Olu, while signing the bond, at the State House in Alausa, Ikeja, with the issuing house in attendance, said the conclusion of the process would bring to N377.715 billion the total value of bond issued from the state’s N500 billion debt issuance programme.

The governor noted that in line with the state’s vision to build a Greater Lagos, the proceeds of the bond would be used to finance key infrastructure projects, primarily roads and healthcare.

He listed the projects to include the Lekki Regional Road, rehabilitation of Ijeododo Road and rebuilding of the alternative route to Admiralty Circle Toll Plaza.

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Sanwo-Olu applauded the Federal Ministry of Finance, PENCOM and Debt Management Office, as well as SEC for their support and collaboration.

The governor also, yesterday, commissioned a network of nine roads with a bridge within Soluyi community in Kosofe Local Council.

The roads consist of Aderemi Akeju Street with deck-on-pile bridge, Okun Street, Femi Kufo Street, Brown Street, Adegbenro Street, Ganiyat Dawodu Street, Yetunde Brown Street, Anipole Street and Sosanya Street.

He said the execution of the projects would be a testimony to the fulfilment of his administration’s promise to ensure continuity of governance by completing projects that were inherited from the previous government, especially those that are directly beneficial to the people.

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MEANWHILE, the winner of last year’s Spelling Bee Competition, Jemimah Marcus, yesterday, presided over the State Executive Council (SEC) meeting as a One-Day Governor.

Marcus, who advised the state to continue with its COVID-19 mitigating plans, commended Sanwo-Olu and his team for their efforts in containing the virus.

She lauded the administration for its many developmental projects and solicited continued welfare of teachers, and provision of school infrastructure.

Sanwo-Olu, who responded to a memo raised by the one-day governor, promised to look into the requests made by her, urging her and her team to continue to make the state and their parents proud.

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