Lagos State Government has opened a bond offer of up to N200 billion to finance priority infrastructure projects, including hospital construction, the Blue Line rail development and the Omu Creek Bridge.
The Series 5 bond issuance, being arranged by Vetiva Advisory Services Limited, is being offered under the state’s N1 trillion Debt and Hybrid Instruments Issuance Programme. The offer opened on October 13, 2026, and is scheduled to close on Friday, October 16, 2026.
The issuance will be executed through a book-building process, which allows investors to indicate their demand and helps determine the final pricing of the bonds.
According to the offer announcement, proceeds will support ongoing hospital construction projects under the Lagos State Ministry of Health, the Lagos Metropolitan Area Transport Authority’s Blue Line rail development and infrastructure works on the Omu Creek Bridge.
Investors can access the Series 5 offer documents, including the programme prospectus, programme trust deed, Series 5 pricing supplement, Series 5 trust deed, audited financial statements for 2021 to 2025, ratings reports, commitment form and Securities and Exchange Commission approval letter, through the offer documents portal.
The offer is scheduled to close on October 16, 2026. Investors are advised to review the transaction documents for the final pricing, coupon, tenor, minimum subscription and other terms before making investment decisions.
