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Lagos raises N137bn bond to finance six-lane Lekki-Epe expressway and Ikorodu roads

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Babajide Sanwo-Olu, governor of Lagos, signed N137.3 billion 10-year bond to raise funds to finance key infrastructural projects.

The governor presided over the ceremony on Monday where necessary documents required by the Securities and Exchange Commission (SEC) to facilitate the issuance of 13 percent fixed-rate bond were signed by the state’s attorney general, issuing parties, and trustees of the funds.

The event also marked the third time the Lagos Government would be issuing a long-tenure bond of 10 years (2021-2031), bringing to a total value of N377.715 billion bond issued from the Lagos State’s Series IV N500 Billion Debt Issuance Programme.

The state set out to raise N125 billion from the capital market but closed the bids with N137.3 billion, following oversubscription.

“Lagos once again marks another milestone in the domestic debt capital markets, with the issuance of the largest bond ever by a sub-national Government in Nigeria,” the governor said.

“The signing ceremony finalises the issuance of N137.3 billion bond at 13 percent fixed rate in our Series IV Bond Issuance under the N500 Billion Fourth Debt Issuance Programme.

“We set out to raise up to N125 billion, but we closed the book with bids totalling N137.3 billion. This is a strong response from the investing community to our administration’s debut bond issuance.

“This humbling achievement is a testament to continued investors’ confidence in the State’s ability to deliver on its infrastructural and socio-economic developmental objectives, and also to meet repayment obligations.”

Politics

Aiyedatiwa takes commanding lead in Ondo guber poll after winning 15 of 18 LGAs

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Lucky Aiyedatiwa, the All Progressives Congress (APC) candidate, is well ahead of his compatriots in the Ondo governorship election.

The Independent National Electoral Commission (INEC) commenced the announcement of the results at midnight on Saturday.

So far, results from 15 local government areas (LGAs) have been announced, with three outstanding.

Aiyedatiwa has polled 268,144 votes so far, while Agboola Ajayi of the Peoples Democratic Party (PDP) has secured 79,125 votes and Abbas Mimiko of the Zenith Labour Party (ZLP) has won 2,365.

The APC candidate, who is the incumbent governor, has won in all the 15 LGAs, including the strongholds of his challengers.

Results from Ilaje, Ese-Odo and Odigbo LGAs are still being expected at the collation centre.

The collation exercise was adjourned till 12pm by the INEC returning officer for the election.

Meanwhile, on the INEC result viewing portal, 99 percent of the governorship election results have been uploaded.

The election, which took place on Saturday, was largely peaceful and devoid of violence in most parts of the state.

However, journalists and civil society organisations observed several cases of vote trading.

“This situation has continued unabatedly and heightened in this election. It is worrying that, despite the high presence of security personnel at the polling units, vote trading went on openly unchecked during the voting hours,” the Nigeria Civil Society Situation Room said in its preliminary assessment.

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Politics

DSS operatives arrest man with bags of cash during Ondo guber

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Personnel of the Department of State Services (DSS) have apprehended a suspected vote buyer in the ongoing Ondo governorship election.

The man was nabbed on election day at ward 4, polling unit 007, outside St Stephen’s Primary School, Akure.

Television footage showed the operatives and passers-by bellowing on the man to open the boot of his Toyota Camry car. Once he did, two ‘Ghana-must-go’ bags were seen sitting pretty.

The bags were not opened before the cameras as a mob encircled.

The DSS operatives then shoved the man into a white bus from where he was spirited away.

Vote-buying has become commonplace in Nigeria’s elections. Civil society organisations continue to bemoan the trend where agents of political parties carry cash to polling units to induce voters to cast their ballots a certain way.

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Politics

Outrage as Betty Akeredolu calls Nigeria a zoo

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Betty Akeredolu, widow of the late Rotimi Akeredolu, former governor of Ondo, has been criticised for comparing the US presidential election to Nigeria’s 2023 general election.

In a post on X on Wednesday, Betty juxtaposed the period it took to count and announce winners in both polls.

She has also been berated for calling Nigeria a zoo while responding to critics of her posts on the elections.

“When dishonesty is prioritised, simple things become difficult,” she said of Nigeria’s election.

“2023 Nigerian Presidential Election: Total Votes Cast: 25 million, Counting Duration: 5 days. 2024 U.S Presidential Election: Total Votes Cast: 155 million. Counting Duration: Approx. 10 hours.”

In another post, she said, “I made an honest but harmless observation on Nigerian and US presidential elections. Twitter is now on fire. Truth hurts and hurts with tribal colouration”.

“If the 2023 election presidential benefitted you as an individual or group, was that the best Nigeria could offer? Alas, they turned it into a tribal war of words. Nigeria is irredeemable! So sad,” she added.

“Very bitter indeed! Who will rescue Nigeria? What a zoo country!”

One Adegoke Adebisi said counting of votes continues in the US despite the announcement of Donald Trump as president-elect.

“This is not factual. The election was determined in 10 hours but counting continued till Friday, but results were posted live,” Adebisi said in response to Betty’s post.

“Grandma doesn’t even know what electoral college is, she thinks they count each ballot in the US election to declare Trump. You don’t even have the moral justification to criticise a system ur husband benefited from,” another post reads.

Here are a few more posts.

https://twitter.com/drdebodun/status/1856744000608236008?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856744000608236008%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/Montero1016/status/1856742131454431616?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856742131454431616%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/Olalekanakogun/status/1856732313867989117?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856732313867989117%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/bigmorsh/status/1856955340027265067?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856955340027265067%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/AndinoAsuquo/status/1857236820884378041?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1857236820884378041%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/Yakbel/status/1856982179915468879?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856982179915468879%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/xybox/status/1856754083534712983?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856754083534712983%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/bolagy/status/1856749039435296911?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856749039435296911%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/tru_th_finder/status/1856751774981292493?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856751774981292493%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/TemmyAjayi1/status/1856999762458812578?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856999762458812578%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

https://twitter.com/MisterAdigun/status/1856978908266090986?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1856978908266090986%7Ctwgr%5E610290c57da8066b2fca89158d8fe9ca93d32190%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thecable.ng%2Fsame-country-that-made-you-outrage-as-betty-akeredolu-calls-nigeria-a-zoo%2F

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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