Lagos State becomes the first sub-national Government to activate the framework for the unlocking of the $1 trillion Nigerian Green Bond Market Development Programme to finance key infrastructure projects.
On Tuesday, Governor Babajide Sanwo-Olu signed Memorandum of Understanding (MoU) with FMDQ Group and Financial Sector Deepening (FSD) Africa, which are the programme’s implementing partners on the proposed N25 billion (over $60 million) financing.
The historic event, held at the State House in Marina, came less than 24 hours after Lagos was upgraded to AAA(nga) rating from AA+(nga) by Fitch International for the State’s good standing on debt sustainability and resilience.
Sanwo-Olu said the green bond programme, being supported by the UK Agency for International Development (UK Aid), would raise the capacity of the State Government to deliver more key infrastructure and social projects that would keep Lagos on the path of prosperity.
Launched in 2018, the Green Bond Market Development Programme is to facilitate development of a green bond market to support broader debt capital markets reforms that will impact the sovereign and non-sovereign bond markets in the country.
The programme is to empower State Governments to champion sustainable finance for development.
Sanwo-Olu said the MoU was the crucial first step being taken by Lagos towards creating viable financing option for future green and sustainability projects. The funding opportunity, he said, will advance adoption of innovation and technologies to provide green jobs, thereby promoting economic and climate resiliency.
He said: “As a Government, we are committed to utilise our limited resources more efficiently to create a circular economy, which is a promising and viable alternative. Public spending and investments may not be enough to deliver our key objectives; therefore, the need to tap into more private investments for the transition to a zero waste and circular economy, as well as achieving crucial items of the Sustainable Development Goals (SDGs).
“I strongly believe that the Green Bond programme will open the doors of deep sustainable funds for infrastructure and social development for Lagos. Being the biggest player in the sub-national capital market, Lagos’ experience can open new doors for a lot of others. As a State, we embrace the transparency and commitment that comes with a Green Finance framework. We believe it sends an important signal to investors in the market about who we are: a State that is fiscally responsible, prudent and disciplined.”
Sanwo-Olu said Lagos’ credential in investment sustainability made the State take the bold step to activate the framework to benefit from the programme.
He said the initiative would go a long way in ensuring that key deliverables in his administration’s T.H.E.M.E.S agenda are actualised, while pledging that the State would continue to blaze the trail of leadership, financial accountability, innovation and sustainability.
Special Adviser to the Governor on SDGs and Investment, Mrs. Solape Hammond, said the journey to get the framework approved started last year, disclosing that the MoU highlighted key projects to be delivered by the State Government to actualise economic sustainability.
She said the finance would be invested on green projects, adding the implementing partners had created a mechanism to ensure funds earmarked were disbursed judiciously.
Commissioner for Finance, Dr. Rabiu Olowo, said Lagos had 20 years experience in raising bonds, assuring implementing partners and capital market operators of the State’s commitment to the terms highlighted in the framework.
Chief Executive Officer of FMDQ Group, Mr. Bola Onadele, said Lagos had built reputation and “incredible potential” for catalysing broad-based sustainable development, which explained the partners’ readiness to support the State in unlocking the capital to fund key projects.
He said: “ I have no doubt that the implementation of this MoU and the impact thereof will ensure that Lagos continues to set itself apart, support its developmental aspirations and highlight its sustainability efforts at the global green and sustainable finance ecosystem. We are excited about this opportunity to support the developmental aspirations of Lagos.”
Also, FSD Africa CEO, Mr. Mark Napier, saluted the Governor’s energy and his commitment towards providing infrastructure which future generations can rely on.
He said: “It’s truly a significant event that the economic powerhouse of Africa’s largest economy is signing the green bond investment and I can say this is leadership being demonstrated by the Lagos State Government. I expect other States to follow this path.”
The high point was the signing of the MoU by all parties under the supervision of the State Attorney General and Commissioner for Justice, Mr. Moyo Onigbanjo, SAN and witnessed by the British Deputy High Commissioner, Mr. Ben Llewelly-Jones.
Man Narrates how he almost missed out on KudiBenefits N5k Easy Loan
A Nigerian man has narrated how he almost missed out on KudiBenefits N5k Easy Loan.
How I Almost Missed Out On KudiBenefit N5k Easy Loan
Hear me out guys, I want to share something I stumbled on that shocked me. Ehen, and I’m sharing this because I almost missed out on it. I don’t even know why I gave it a try, but I did, and to be honest, it’s been really amazing.
I started my small business of selling phone accessories immediately after the lockdown and it was then that I realized that getting a loan in Nigeria ehn… it’s really something else, and as a guy man now, you wouldn’t want to be disturbing people for small change.
Anyway, I don’t know if I should call this one a loan or a giveaway because it’s fast, seamless, and I got my account credited in a matter of minutes. They have small requirements sha, but I got mine with just my phone number and BVN. I even told my sister to open an account just to see if the requirement would be different but mhen, it’s the same thing.
It’s like I’m talking too much. Don’t be angry. I’m just really excited that this thing works for someone like me who doesn’t like asking people for a quick raise.
Okay, just head over to www.kudibenefits.chat and on the side, fill in your phone number. The person that introduced me to it said the site is very secure and has no hassle and its’ been the same for me so far. They’ll send you a code and you’ll just dial the code. After that, put in your BVN and select create account. An account will be created for you immediately and guess what? No, guess now.
The created account will have automatic qualification to apply for a loan of up to N5k, once you buy airtime and send money as low as N300. On the same chat platform, simply tap on the loan feature button and fill in your personal and account details. In next to no time, the created account will be credited with N5k. How cool is that? You can withdraw the money at once or however you want. No kidding. E choke o!
Their customer care also told me that once I pay back the 5k loan within 30 days, I can get a higher amount.
This is the platform with the surest loan/giveaway at the moment. The Nigerian doubting Thomas in me almost made me miss it sha. E for pain me. I just said let me share. You can get yours here, i don’t want to hear that i have never done anything for you ooo!
Has anyone also tried it or is it only me? Please if you’ve tried it, share your experience. Let’s help another in these trying times.
Sanwo-Olu’s Effective Use Of Technology To Transform Businesses
… State Agency Organises Conference On Outdoor Advertising
By 2030, the smart city ambition of Lagos State would have been fully realised, Governor Babajide Sanwo-Olu said on Thursday.
The Governor said his administration would continue to leverage technology to transform the State’s economy while easing impediments for businesses to flourish.
Sanwo-Olu said his administration had begun the implementation of the smart city plan with the rollout of 6,000km metro fibre optics, which is the requisite infrastructure for the smart city project. In the next nine years, the Governor said every residence, school and office in Lagos would have access to fast Internet connectivity.
Advanced technology and high bandwidth penetration, he said, would bring more prosperity to businesses and MSMEs operating in the State.
The Governor spoke at the 2021 Out-of-Home Advertising Conference and Exhibition organised by the Lagos State Signage and Advertisement Agency (LASAA). The event was held at Eko Hotels and Suites, Victoria Island.
Sanwo-Olu, represented by his deputy, Dr. Obafemi Hamzat, said the State Government would provide supporting infrastructure and leverage data to enhance capacity of small and medium scale enterprises.
Speaking on the theme: “Road map for the Growth of Signage and Out-of-Home Advertisement post Covid-19 in Lagos,” Sanwo-Olu said his administration had started to address challenges impeding transformation of State into 21st century economy.
He said: “As a Government, we recognise that we have a role to play in creating enabling and regulatory environment for business to grow, while addressing the impact of the pandemic on business activity. Our focus is on pushing forward on our Smart City agenda to transform businesses, including marketing and advertising business.
“Technology is the current value of exchange globally and our smart city plan is predicted on this. We dream to become a Smart City of relevance and our main goal is to optimise city functions and promote economic growth while also improving the quality of the lives of our citizens. By using smart technologies and data analysis, we can properly plan based on predictions.
“We are making appreciable progress in the ongoing laying of metropolitan optic fibre, as well as the installation of smart cameras in strategic locations across the State. We believe that these two projects are critical to enhancing the ability of businesses to effectively operate. This technology will be supported by efficient and stronger bandwidth connectivity.”
Commissioner for the Environment and Water Resources, Mr. Tunji Bello, said the conference would create a roadmap for the out-of-home advertising industry and foster effective collaboration with all stakeholders in the sector.
He said the conference had established the nexus between outdoor advertising and the Smart City plans of the State, stressing that the Governor’s T.H.E.M.E.S. agenda was designed to fundamentally transform the social and business environment.
“The outdoor advertising sector is witnessing unprecedented growth in diverse forms, particularly in the deployment of innovation and technology infrastructure which seemed almost impossible some twenty years ago. This conference and exhibition will further stimulate ideas that will benefit the outdoor advertising industry not only in Lagos, but nationally. Lagos will remain the hub for advertising business and we will continue to set standards in the sector,” Bello said.
Managing Director and Chief Executive Officer of Lagos State Signage and Advertisement Agency (LASAA), Prince Adedamola Docemo, said the objective of the conference was to raise the confidence of stakeholders in the Sanwo-Olu administration as a public sector partner.
He said the agency would be rolling out policies and programmes that would improve sectoral investment, drive sustainable growth, encourage regular engagement and development of the State.
Opinion9 months ago
Who is afraid of Bola Tinubu? By Tunde Rahman
News9 months ago
Chronicles of Olayinka Falola; A Quintessential Philanthropist
News10 months ago
Breaking: Sunday Adeyemo (AKA Sunday Igboho ) Arrested in Cotonou
Entertainment10 months ago
Saskay BBNaija Biography, Net Worth, Age…
Education9 months ago
LASU, LASPOTECH RANKED TOP IN NIGERIA; SANWO-OLU’S EDUCATIONAL REVOLUTION YIELDING FRUITS
Entertainment10 months ago
Arin BBNaija Biography, Net Worth, Age…
News10 months ago
Is Asiwaju Bola Tinubu Dead? See What His Aide Has To Say
Entertainment10 months ago
Princess BBNaija Biography, Net Worth, Age…