By Dipo Olowookere
The Nigerian Exchange (NGX) Limited has made its robust trading platform available to the Lagos State government to fund strategic initiatives.
The Chief Executive Officer of the exchange, Mr Temi Popoola, while speaking during a meeting with the Governor of Lagos State, Mr Babajide Sanwo-Olu, said the government can take advantage of the different options to raise funds for its projects and programme.
When Governor Sanwo-Olu assumed office in 2019, he unveiled a six-strategic development agenda christened THEMES, an acronym for Traffic Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism and Governance and Security.
At the meeting with the Governor on Thursday, Mr Popoola expressed confidence that the capital market, especially the NGX, can be a vital tool for achieving these goals of the current administration.
“At NGX, we are eager to reaffirm our commitment to collaborating with Lagos State Government on its infrastructure development drive through our robust platform available to fund strategic objectives.
“This is particularly important to us given the critical position Lagos state occupies as the Centre of Excellence and the major economic hub in Nigeria and Sub-Saharan Africa.
“NGX has always been a strong collaborator through which the state accesses long-term developmental funding from the capital market evidenced by the N224.54 billion Lagos State Bonds listed on NGX, cumulatively the largest subnational bond listed on the NGX platform.
“We, therefore, look forward to exploring more opportunities especially in infrastructure financing, environmental and climate bonds, and capacity building,” the NGX chief stated.
In his remarks, Mr Sanwo-Olu thanked the NGX and its board for the visit, assuring that the government will explore capital raising via the exchange to fund infrastructure projects through equities, green, Sukuk, and blue bonds.
He further expressed confidence in the opportunities available in the capital market and indicated an interest in deepening synergies between the state and the bourse.
Capital market stakeholders continue to look forward to outcomes from the series of strategic engagements NGX has facilitated with key players across the public and private sectors, which are geared towards the development of the capital market and the Nigerian economy at large.
It was learned that the NGX board members present at the meeting yesterday were Mr Kamarudeen Oladosu, Mr Seyi Osunkeye and Mr Yomi Adeyemi.
Adedapo Adesanya 
Modupe Gbadeyanka