Lagos State Government has successfully listed two fixed rate bonds on the Nigerian Exchange Limited, reinforcing investor confidence in Nigeria’s debt capital market and expanding access to long-term funding for public sector development.
The dual listing, announced on Tuesday, features a Series III 5-Year 16 per cent Fixed Rate Green Bond and a Series IV 10-Year 16.25 per cent Fixed Rate Bond, both now available for trading on NGX Exchange.
Details of the instruments show that the Series III Green Bond, due in November 2030, has a total issue size of N14.82 billion, represented by 14.815 million units priced at N1,000 each.
The bond carries a fixed coupon of 16 per cent and a five-year tenor, underscoring Lagos State’s continued use of sustainable financing to support environmentally friendly projects.
The larger Series IV bond, maturing in November 2035, was issued at N230.0 billion, comprising 230 million units at an issue price of N1,000 per unit. With a fixed coupon of 16.25 per cent and a 10-year tenor, the instrument is designed to attract long-term investors seeking stable and predictable returns.
Market analysts said the clear tenors, competitive yields and transparent pricing of the two bonds enhance their appeal to both institutional and retail investors, while also deepening the domestic fixed income market.
The listing further highlights the role of NGX Exchange as a critical platform for mobilising capital, providing issuers with efficient access to long-term funding and offering investors a wide range of debt instruments, including sustainable finance products.
By bringing both a green bond and a conventional long-term bond to the market, Lagos State Government continues to demonstrate innovation in public sector financing, while supporting the development and resilience of Nigeria’s debt capital market.
