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Politics / Re: Lyon Out, Diri Hopeful As INEC Reviews Judgment by Lagosfinder(m): 9:05am On Feb 14
Let there be a rerun

1 Like

Politics / Re: Residents Boo President Buhari In Maiduguri by Lagosfinder(m): 5:50pm On Feb 12
Hmmm
Health / Re: Coronavirus: Travellers From China To Lagos To Be Quarantined For 10-15 Days by Lagosfinder(m): 11:08pm On Jan 29
God save Lagos
Politics / Lagos Makes History, Raises N100 Billion To Finance Infrastructure by Lagosfinder(m): 9:07pm On Jan 29
…Sanwo-Olu: ‘It’s A New Journey Toward Developing Lagos’

Lagos State Government has opened a new chapter in its stride towards attaining self-sustenance in finance and governance. Governor Babajide Sanwo-Olu on Wednesday, signed documents for the issuance of N100.33 billion bond, which the State raised from capital market to fund infrastructure and pressing capital projects.

At a signing ceremony held at the Banquet Hall at the State House in Alausa, Governor Sanwo-Olu, investors and issuing parties put the final ink on the over-subscribed Series Three Bond Issuance of N100 billion, which was issued and raised by the State under its N500 billion Third Bond Programme approved four years ago.

The Governor, who was visibly excited by the financial intervention, declared the moment as “historic and new journey” for the State in its drive to provide requisite infrastructure to catalyse its economy, saying it was the largest bond programme ever embarked on by any sub-national entity in the country.

Sanwo-Olu said: “We have embarked on a new journey that is not meant to serve our personal interest, but to activate more prosperity for our dear Lagos and give our people the hope for better tomorrow we all dreamed. When we came into Government, we made commitment to all Lagosians that we are coming to pursue and implement an agenda that will build our capacity to achieve ‘Greater Lagos’ we all will be proud of.

“Today, I am standing in from you all to say we are writing the financial history of Lagos in another chapter and it will bring good dividends to all residents. With this N100 billion bond, we will ensure that all Lagosians feel the direct impact of this intervention in their homes and on the roads. We are bringing new infrastructure and repairing the existing ones, including bridges and hospitals. We are going to renovate schools and build new ones for our children; slums will be regenerated and pressing environmental issues will be solves. We are going to make people feel the essence of governance.”

Sanwo-Olu recalled that the effort to raise the bond started some three months ago with a simple discussion with professional partners led by Chapel Hill Denham. He observed that the State almost missed the opportunity, as the statutory period recommended by Securities and Exchange Commission (SEC) to raise such bond was closing when the State started pushing for the bond issuance.

The Governor said the partners staked their time and energy for the State to secure essential requirements to access the capital for the bond. Within a period of three months, Sanwo-Olu said the partners helped Lagos to restructure its balance sheet and reduce the State’s interest expense by N17 billion, which gave Lagos the opportunity to raise the bond from the capital market.

He said: “Less than three months down the line, we are celebrating the biggest sub-national bond issuance today and the team of partners has also helped us to restructure our entire balance sheet. We have been able to revert the entire borrowing of Lagos from very high rate to acceptable numbers. The team has also helped us to reduce interest expense by N17 billion, which made it easy for us to approach the financial market.”

Sanwo-Olu promised not to betray the confidence of investors that subscribed to the bond, pledging that the funds would be disbursed strictly to finance infrastructural projects required to boost the State’s economy.

Commissioner for Finance, Dr. Rabiu Olowo, said the State accelerated the bond programme in response to the need to close “huge infrastructural gap” in the face of limited financial resources available to the State. He said the State Government took the advantage of favourbale investment climate in the capital market to issue the “Series Three” of its bond programme to raise the money.

He said: “The cost of inaction would have been huge and it would mean over 20 million Lagosians would be underserved in many areas. It was, therefore, with this mandate that Lagos Government sought the support of professional advisers to access the capital market in December 2019. 

“It is fulfilling to note that, despite hurdles we faced, we have been able to achieve the target we set for ourselves. In fact, we exceeded the target. I want to assure all residents that the proceeds from this bond issuance programme will be judiciously utilised in line with our T.H.E.M.E.S agenda to achieve a ‘Greater Lagos’.”

Managing Director, Chapel Hill Denham, Mr. Bolaji Balogun, described the bond as a “jumbo” for the State, stressing that the support given to Lagos Government by the capital market was unprecedented.
Balogun noted that Lagos issued a bond of N100 billion, adding that the Minister for Finance granted the approval for the process while in transit.

Lagos, he said, must accelerate investment in infrastructure, adding that such would create an incredible multiplier effect on economic activities and give the State financial buoyancy. Sustained investment in infrastructure, Balogun said, remained the only way to achieve irreversible development and lift millions of people out of poverty. 

A total of 315 bids were submitted during the offer period for the Lagos Series Three Bond Issuance, putting the value of the total bids at N196.48 billion. A total of 208 bids, which amounts to N100.33, qualified under the terms of the offer at the clearing price of 12.25 per cent per annum.

https://www.tv360nigeria.com/lagos-raises-n100-billion-bond-to-finance-infrastructure/

Crime / Illegal Traffic Enforcement: RRS Arrest 5 LG Staff For Extorting Motorists by Lagosfinder(m): 3:03pm On Jan 28
The operatives of the Rapid Response Squad (RRS) have arrested five suspects posing as Local Government Traffic officers for extorting motorists along LASU-Igando Expressway.

The suspects, who claimed they were on contract with the Ikotun-Igando Local Council Development Area in Alimosho Local Government, were arrested on Monday after receiving complaint from one Professor Abdulraham Olayiwola.

The suspects arrested include: the gang leader, Taiwo Falodun (48), Mukaila Atanda (48), Adedire Olaniyi (40), Chibuzor Eze (26) and Akinseye Alex (48).

The suspect had last week Thursday extorted N41,000:00 from Professor Olayiwola for not speeding on the Expressway.

The Professor, according to investigations, was heading towards Igando from LASU when the suspects, operating on Keke NAPEP forced him to park for not speeding. He was forced to drive to their hideout on LASU – Igando Expressway.

It was here, his vehicle was impounded and made to pay N41,000 before the vehicle was released to him the following day.

During the arrest, over 15 private vehicles and two commercial buses had been impounded by the miscreants and their tyres deflated.

Some of the victims, who the gang just arrested described the activities of the suspects as illegal. One of them who declined to mention his name stated that the suspects demanded N30,000 from him for his vehicle not to be towed to Badagry, where he would be made to pay N75,000.

Investigations revealed that many private car owners were paying cash and through a POS allegedly owned by one of the suspects.

According to Falodun, a dismissed Spy Policeman, there are three teams operating for Ikotun-Igando LCDA, adding that, they were engaged to work for the Local Government Council on contract.

He noted that the team remits N20,000 weekly to the Local Council.

Recovered from the team were payment tickets issued to their victims ranging from N25,000 to N41,000 and one tri cycle.

Politics / Re: Yahaya Bello And Edward Onoja In Silent War Over Appointments by Lagosfinder(m): 3:19pm On Jan 26
One we certainly go down

2 Likes

Politics / Re: Emeka Ihedioha Returns To Supreme Court by Lagosfinder(m): 6:55pm On Jan 25
Game of thrones
Politics / Re: Ile Arugbo: Saraki Seeks Out-of-court Settlement With Kwara Govt by Lagosfinder(m): 2:20pm On Jan 25
politicians know how to settle themselves
Celebrities / Re: Davido And Chioma Today Spotted Together Amdist Peruzzi Betrayal Scanda by Lagosfinder(m): 2:16pm On Jan 25
bad Belle stay off them

1 Like

Politics / Re: Race For PDP Governors’ Forum Chairman Rages, As Rivers Lobby For Tambuwal by Lagosfinder(m): 2:12pm On Jan 25
2023
Romance / Re: A Mother's Savage Reply To Her 8 Year Old Child Who Said 'she Had Germs by Lagosfinder(m): 7:49pm On Jan 24
Digital children
Sports / Re: Kubrat Pulev considers Nigeria to stage fight with Anthony Joshua by Lagosfinder(m): 3:59pm On Jan 24
A.J power
Politics / Re: Edo Guber: “you Are Doing Well, Nobody Will Unseat You,,” Gov Umahi Tells Obasek by Lagosfinder(m): 3:56pm On Jan 24
Edo is now ebonyi
Politics / Re: Supreme Court: Why We Accepted Materials Tendered By Uzodinma, Police by Lagosfinder(m): 5:48am On Jan 24
An already closed issue

2 Likes

Politics / Re: PHOTOS: Amotekun Solidarity Protest In Lagos by Lagosfinder(m): 6:28pm On Jan 21
Lagos people no come out

24 Likes 4 Shares

Politics / Re: Will Okada and Tricycles on Major Highways Return Sanity to Lagos? by Lagosfinder(m): 7:55am On Jan 21
Sanity in Lagos with danfo still on the road
Politics / LASG Feeds 11,811 Pupils, Begins Five-day School Meal Pilot Phase by Lagosfinder(m): 7:51am On Jan 21
By Reporter
Last updated Jan 21, 2020 
   

The Lagos State Government has disclosed that no fewer than 11,811 pupils of 33 public primary schools from Lagos Island were fed each, with a meal pack during first day of pilot phase of its introduced school feeding initiative which commenced on Monday in the state.
It said that the feeding program tagged, “Snack for Thought” is still in pilot phase and that it is expected to run for five days with continuous feeding of the stated figure of pupils from the 33 selected primary schools, daily.
As gathered, the government’s aim is to use the designed educational support initiative to empower and promote primary school education and address issues of absenteeism and other identified factors contributing to problem affecting the nation’s educational system.
It was gathered that decisions on the school feeding program pilot scheme were reached by the state government, through its Office of Civic Engagements, after considering need for Lagos State government intervention on public school welfare and that the agenda of Lagos state is to run a concurrent program alongside Federal Government school feeding program designed to cater for pupils between primaries one and three.
As listed by Lagos state government, Holy Cross Catholic Primary School, Ebute-Elefun Primary School, Mattias Boys and Girls Primary School, Edwards Blyden Memorial School, Araromi Baptist Primary School, Ereko Methodist Primary School, St. Mary’s Convention Primary School, St. Mary’s Girls Primary School, St. Peter’s (Faji) Primary School and Christ Church Cathedral Primary School were among schools benefiting from the feeding program.
Others include, Anglican Girl’s SEN Primary School, Ansar-U-Deen Oke-Popo Primary School, Anwar-U Girl’s Olushi Primary School, St. Stephen’s (WAEC) Primary School, Jammaitul Islammiya Primary School, Lagos Island Local Government Primary School, Ade-Oshodi Memorial Baptist School, Fazi-o-mar Ahmadiya Primary School, Teslim Elias Primary School, Holy Trinity Primary School and Union Baptist Primary School.
The list also includes, St. Joseph Catholic Primary School, Olowogbowo Methodist School, Anwaru Islam Elegbata School, St. Paul’s Anglican Primary School, Zumuratul Islamiyah Primary School, St. John’s Anglican Aroloya, St. Patrick’s Catholic Primary School, Ansar-U-Deen Alakoro Primary School and Lagos Island Montessori School.
The Special Adviser, Lagos State Office of Civic Engagements, Aderemi Adebowale, confirmed that no fewer than 11,811 pupils from 33 public primary schools were fed through the school feeding program pilot scheme being introduced by the state government and that the program was part of Lagos State Governor, Babajide Sanwo-Olu, resolve to promote primary education which is the foundational rock for breeding a new and better generation.
Speaking during flag-off of the pilot of the feeding program tagged “Snack for Thoughts” at Christ Church Cathedral Primary School on Monday, in Lagos, Adebowale explained that the feeding pilot phase had commenced and that it would run for five days, and that 11,811 pupils across the 33 primary schools were expected to be fed on a daily basis for the period stated.
She disclosed that the Lagos state government had prepared meal packs containing nutritional snacks and drinks for pupils and that a pack of the meal is expected to sustain a child for period of his or her class session.
The special adviser hinted that the feeding program was being carried out as an experiment to ascertain both cost effects and value return on the pupil, and that the aim was to have conclusive plans such that could run side by side with federal government feeding plan for pupils in primaries one to three.
“Sanwo-Olu has good plans for Lagosians particularly school children and part of his plan is the pilot phase of this school feeding program. Apart from the cost implication of the feeding, the governor want know the good effect the food program will on have the children and that is the reason for the pilot scheme.
“Our governor know impact of good welfare on pupils and since Federal Government has plan to cater for primary one class to three classes of public schools across the nation, including Lagos, through its feeding program, Sanwo-Olu also felt there is need for the Lagos state government to also cater for the children of other classes including those in nursery,”
“The initial plan of our governor is to provide a daily meal pack for pupils such that can sustain and give them require energy during class period as against cases of children with empty stomach.”
By Reporter
Last updated Jan 21, 2020 
   

The Lagos State Government has disclosed that no fewer than 11,811 pupils of 33 public primary schools from Lagos Island were fed each, with a meal pack during first day of pilot phase of its introduced school feeding initiative which commenced on Monday in the state.
It said that the feeding program tagged, “Snack for Thought” is still in pilot phase and that it is expected to run for five days with continuous feeding of the stated figure of pupils from the 33 selected primary schools, daily.
As gathered, the government’s aim is to use the designed educational support initiative to empower and promote primary school education and address issues of absenteeism and other identified factors contributing to problem affecting the nation’s educational system.
It was gathered that decisions on the school feeding program pilot scheme were reached by the state government, through its Office of Civic Engagements, after considering need for Lagos State government intervention on public school welfare and that the agenda of Lagos state is to run a concurrent program alongside Federal Government school feeding program designed to cater for pupils between primaries one and three.
As listed by Lagos state government, Holy Cross Catholic Primary School, Ebute-Elefun Primary School, Mattias Boys and Girls Primary School, Edwards Blyden Memorial School, Araromi Baptist Primary School, Ereko Methodist Primary School, St. Mary’s Convention Primary School, St. Mary’s Girls Primary School, St. Peter’s (Faji) Primary School and Christ Church Cathedral Primary School were among schools benefiting from the feeding program.
Others include, Anglican Girl’s SEN Primary School, Ansar-U-Deen Oke-Popo Primary School, Anwar-U Girl’s Olushi Primary School, St. Stephen’s (WAEC) Primary School, Jammaitul Islammiya Primary School, Lagos Island Local Government Primary School, Ade-Oshodi Memorial Baptist School, Fazi-o-mar Ahmadiya Primary School, Teslim Elias Primary School, Holy Trinity Primary School and Union Baptist Primary School.
The list also includes, St. Joseph Catholic Primary School, Olowogbowo Methodist School, Anwaru Islam Elegbata School, St. Paul’s Anglican Primary School, Zumuratul Islamiyah Primary School, St. John’s Anglican Aroloya, St. Patrick’s Catholic Primary School, Ansar-U-Deen Alakoro Primary School and Lagos Island Montessori School.
The Special Adviser, Lagos State Office of Civic Engagements, Aderemi Adebowale, confirmed that no fewer than 11,811 pupils from 33 public primary schools were fed through the school feeding program pilot scheme being introduced by the state government and that the program was part of Lagos State Governor, Babajide Sanwo-Olu, resolve to promote primary education which is the foundational rock for breeding a new and better generation.
Speaking during flag-off of the pilot of the feeding program tagged “Snack for Thoughts” at Christ Church Cathedral Primary School on Monday, in Lagos, Adebowale explained that the feeding pilot phase had commenced and that it would run for five days, and that 11,811 pupils across the 33 primary schools were expected to be fed on a daily basis for the period stated.
She disclosed that the Lagos state government had prepared meal packs containing nutritional snacks and drinks for pupils and that a pack of the meal is expected to sustain a child for period of his or her class session.
The special adviser hinted that the feeding program was being carried out as an experiment to ascertain both cost effects and value return on the pupil, and that the aim was to have conclusive plans such that could run side by side with federal government feeding plan for pupils in primaries one to three.
“Sanwo-Olu has good plans for Lagosians particularly school children and part of his plan is the pilot phase of this school feeding program. Apart from the cost implication of the feeding, the governor want know the good effect the food program will on have the children and that is the reason for the pilot scheme.
“Our governor know impact of good welfare on pupils and since Federal Government has plan to cater for primary one class to three classes of public schools across the nation, including Lagos, through its feeding program, Sanwo-Olu also felt there is need for the Lagos state government to also cater for the children of other classes including those in nursery,”
“The initial plan of our governor is to provide a daily meal pack for pupils such that can sustain and give them require energy during class period as against cases of children with empty stomach.”
Politics / Re: LASG Gives 2 Weeks Ultimatum To Illegal Occupants Of Jankara Market by Lagosfinder(m): 6:22am On Jan 21
Let be resettled
Politics / Re: Obaseki And Shuaibu Visit Oba Rilwan Akiolu In Lagos (Photos) by Lagosfinder(m): 4:21pm On Jan 20
Edo 2020
Politics / Re: Supreme Court: APC Stages Counter-Protest In Abuja by Lagosfinder(m): 11:55am On Jan 20
All for supremacy

2 Likes 1 Share

Politics / Re: Adebanjo, Okunronmu, YCE Tackle Tinubu Over Silence On Operation Amotekun by Lagosfinder(m): 11:25am On Jan 20
House hunting in Lagos?

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Celebrities / Re: “I Doubt If I’m Truly Ifeanyi Biological Father” – Davido Tells Chioma by Lagosfinder(m): 11:18am On Jan 20
Nothing pains a man than when he is played by the woman he loves



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Call/Whatsap 07062223999
Politics / Lagos Governor Appoints Kabiru Ahmed From Katsina As Commissioner by Lagosfinder(m): 11:00am On Jan 20
Lagos State Governor, Mr. Babajide Sanwo-Olu moved three commissioners to different ministries and upgraded two special advisers to commissioners in a cabinet reshuffle announced on Thursday.
Two former special advisers, Anofiu Elegushi and Kabiru Ahmed are now assigned to the ministries of Home Affairs and Waterfront Infrastructure as honorable commissioners, respectively according to Punch News.
Kabiru Ahmed, an architect, is an indigen of Katsina State from Daura Local Government, according to Katsina Post findings.
Recall that Arc. Ahmed Kabiru contested for the Katsina North (Daura) Senatorial zone ticket sometime in 2018 bye-election.
He, together with other aspirants were defeated by Senator Ahmad Babba Kaita.
The Lagos State Governor also dropped the Commissioner for Tourism, Arts and Culture, Shuli Adebolu, from his cabinet.

Politics / Re: What's Your Take On The Ban Of Bike And Keke On Major Lagos Roads? by Lagosfinder(m): 9:19am On Jan 20
Good and bad
Romance / Re: Kano Hisbah Invites American Lady, Hausa Lover Getting Married by Lagosfinder(m): 10:16pm On Jan 18
Whats their business

1 Like

Celebrities / Re: Burna Boy Buys A House With 8 Rooms And Swimming Pool In Lekki by Lagosfinder(m): 10:12pm On Jan 18
Good one
Properties / Re: Need Selfcon/Flat/bungalow/Duplex OR Place for Shop/Church/Shool In Lagos ~ENTER by Lagosfinder(m): 12:31pm On Jan 18
House Hunting In Lagos?
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Properties / Re: Properties To Let @ Lagos Island, Mainland, Surulere, Yaba & Lekki-ajah by Lagosfinder(m): 12:27pm On Jan 18
[b][/b]House Hunting In Lagos?
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Call/Whatsap 07062223999 lets know your requirement and budget House Hunting In Lagos?
Lagosfinder.com team provides 100% solution to your property search.
Call/Whatsap 07062223999 lets know your requirement and budget
House Hunting In Lagos?
Lagosfinder.com team provides 100% solution to your property search.
Call/Whatsap 07062223999 lets know your requirement and budget
Politics / Re: Stop Calling Us NEPA, It Shows You Don’t Want Electricity - Discos Spokesperson by Lagosfinder(m): 8:58am On Jan 18
OK oh
Politics / Re: Arrest Yoruba Leaders Backing Operation Amotekun Now, Miyetti Allah Tells FG by Lagosfinder(m): 8:10am On Jan 18
madness taken too far

1 Like

Politics / Lasg Installs 2,000 Okada, Keke Restriction Signs On Highways, Bridges. by Lagosfinder(m): 6:53pm On Jan 17
Let's hope this new measures we work

Politics / Re: 39 Senators Fail To Sponsor Bill In Six Months (names) by Lagosfinder(m): 8:26am On Jan 17
Most of them are there for just the salary and allowance

9 Likes

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