N100bn bond: Lagos, SEC inspect ongoing projects


Governor Sanwo-Olu

Governor Sanwo-Olu

In preparation for the N100 billion Bond Issuance Programme recently approved by the Lagos State House of Assembly (LAHA), the Lagos State Debt Management Office has embarked on an inspection exercise of all ongoing projects across the State with officials of the Securities and Exchange Commission, and relevant agencies of Government.

The Bond proceeds are expected to be utilised for major infrastructural projects in line with the T.H.E.M.E.S agenda of State Government and its commitment to improving the quality of life of all Lagosians

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According to the Permanent Secretary, Debt Management Office, Mrs. Abimbola Umar, the SEC officials are in Lagos for a pre-inspection tour of the Projects for which the Bond Proceeds would be utilised as well as to assess the extent of work done so far.

The inspection tour which is expected to last three days, covers projects in the five divisions of the State and spans across various sectors such as Transport, Health, Environment and Drainage, Education, Water, Roads and Housing.