The Lagos state government has
announced plans to float a Bond Issuance Programme of thirty-five billion naira
in the third quarter of this year.
The Commissioner for Finance, Adetokunbo Abiru who
made known in Alausa said the bond would be mainly for the execution of
infrastructural projects.
Abiru said the state Consolidated Debt Service
Account for the payment of interest and principal on the Bond Issuance
Programme, currently has a credit balance of sixty-eight-point-two billion
naira.
He explained that the Enforcement Strategy on land
Use Charge had been very effective, and while charges collected are shared
quarterly between the state and local governments on agreed proportions.
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