FMDQ Securities Trade Restricted has accredited the itemizing of Lagos State Authorities’s dual-series bonds totaling N244.82 billion below its N1.00 trillion Debt and Hybrid Instrument Issuance Programme.
The approval was disclosed in a launch issued on Tuesday, February 24, 2026, by FMDQ Securities Trade Restricted following a gathering of its Board Listings and Markets Committee.
The itemizing covers a N14.82 billion 5-Yr 16.00% Sequence 3 Fastened Fee Inexperienced Bond and a N230.00 billion 10-Yr 16.25% Sequence 4 Fastened Fee Bond, each aimed toward supporting infrastructure and sustainable improvement initiatives in Lagos State.
FMDQ Securities Trade Restricted said that its Board Listings and Markets Committee has accredited the itemizing of two Lagos State bond issuances below the N1 trillion Debt and Hybrid Instrument Issuance Programme. The Trade described the transaction as some of the vital sub-national debt capital market transactions in Nigeria’s historical past.
The Trade added that the dual-series issuance, sponsored by Chapel Hill Denham Advisory Restricted, Registration Member (Listings) of FMDQ Trade, will assist Lagos State’s strategic programmes and reinforce its place as Africa’s premier industrial vacation spot.
The Sequence 3 Fastened Fee Inexperienced Bond marks a milestone for Lagos State and Nigeria’s sustainable finance ecosystem. In alignment with international inexperienced bond requirements, the issuer has dedicated to making use of the proceeds completely towards eligible inexperienced initiatives.
The Trade famous that the approval of the dual-series bonds additional strengthens the home debt capital market and highlights the growing adoption of inexperienced finance devices by sub-national issuers in Nigeria.
Lagos State has maintained a powerful observe file of accessing Nigeria’s capital markets to fund infrastructure improvement. The twin-series bonds now listed on FMDQ buying and selling had been initially issued in 2025 below the identical N1.00 trillion programme.
These issuances mirror Lagos State’s continued reliance on the home bond market to finance large-scale infrastructure and sustainability-focused initiatives, reinforcing its management amongst sub-national issuers in Nigeria’s capital market.
