Sanwo-Olu, Popoola Pledge To Deepen Lagos State, NGX Synergy

Caption: From left, Yomi Adeyemi, Non- Executive Director, Nigerian Exchange Limited (NGX): Kamarudeen Kareem Oladosu, Non-Executive Director, NGX; Mrs Folashade S. Jaji – State Secretary to the State Government, Lagos State; Governor Sanwo-Olu; Temi Popoola, CFA, Chief Executive Officer, NGX; Dr. Rabiu Onaolapo Olowo – Commissioner for Finance, Lagos State; Mrs. Ruqayat Alake-Sanusi, Permanent Secretary, Debt Management Office at Lagos State and Seyi Osunkeye, Non- Executive Director, NGX during a courtesy visit of the Board and Management of NGX to the Governor’s Office on Thursday, 10 February 2022.

Governor Babajide Sanwo-Olu of Lagos says the State Government will explore opportunities in capital raising via the Nigerian Exchange Limited to fund infrastructure projects through Equities, Green, Sukuk, and Blue Bonds.

Receiving the board and management of NGX led by the Chief Executive Officer, Temi Popoola, who came on courtesy visit to his office on Thursday, he expressed confidence in the opportunities available in the capital market and indicated an interest in deepening synergies between the State and The Exchange.

According to Popoola, “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 of 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 ₦224.54bn 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,” he added. 

Capital market stakeholders, the NGX said in a statement continue to look forward to outcomes from the series of strategic engagements NGX has facilitated with key players across the public and private sectors, which are geared towards the development of the capital market and the Nigerian economy at large.