Lagos Raises ₦445bn in Bonds for Rail, Hospitals and Other Projects

Lagos State has raised ₦445 billion through two bond issuances to fund infrastructure and development projects. Governor Babajide Sanwo-Olu disclosed the figures at the 30th Annual Stockbrokers’ Conference in Victoria Island, Lagos. The state raised ₦230 billion through conventional and green bonds in November 2025, then secured another ₦215 billion after investors oversubscribed a ₦200 billion target. Projects receiving funding include the Blue Line extension from Okokomaiko to Trade Fair, Ojo Specialist Hospital, New Massey Children’s Hospital and Omu Creek Bridge. Sanwo-Olu said the bond proceeds would support transport, healthcare and economic activity. He also urged stakeholders to improve other states’ access to capital-market funding and backed new financial products, including tokenisation. The state also pledged support for a ₦5 billion endowment fund to develop skills for digitising Nigeria’s capital market.

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