Lagos 'Mega City Fund' Boosted By 85 Billion Naira Bond Loan
According to Nigeria's Daily Times, Lagos state raised 85.14 billion naira in 7- and 10-year bonds to fund the infrastructure and env...
https://newshelmng.blogspot.com/2017/08/lagos-mega-city-fund-boosted-by-85.html
According to Nigeria's Daily Times, Lagos state raised 85.14 billion
naira in 7- and 10-year bonds to fund the infrastructure and
environmental projects. This is the third tranche of a 500-billion-naira
debt programme approved by Lagos House of Assembly last year for Lagos
to cement its mega city status.
The bond consists of 46.37 billion naira that the government will pay back over a period of 7 years at a 16.75% interest rate. There is also another 38.77 billion naira to be paid back in 10 years with 17.25% interest.
The Lagos State finance commissioner, Akinyemi Ashade, thank everyone who has worked with the state to deliver successful outcomes and build the reputation of the Lagos State Government as the most responsible issuer the Nigerian capital markets.
The bond consists of 46.37 billion naira that the government will pay back over a period of 7 years at a 16.75% interest rate. There is also another 38.77 billion naira to be paid back in 10 years with 17.25% interest.
The Lagos State finance commissioner, Akinyemi Ashade, thank everyone who has worked with the state to deliver successful outcomes and build the reputation of the Lagos State Government as the most responsible issuer the Nigerian capital markets.
