- STL Trustees Limited served as Lead Trustee on Lagos State’s historic N230 Billion Bond Issuance, the largest Sub-National Bond in Nigeria, under the State’s N1 Trillion Bond Programme.
- Lagos State also issued a pioneering N14.8 Billion Green Bond, becoming the first Sub-National in Nigeria to float a sustainability-focused debt instrument, signaling commitment to climate-resilient development.
- STL Trustees emphasized that these landmark transactions reinforce its leadership in trusteeship and set a precedent for sustainable financing while strengthening Lagos State’s financial position for critical infrastructure projects.
STL Trustees Limited has been announced as the Lead Trustee on the Lagos State landmark N230 Billion Bond Issuance, the largest Sub-National Bond ever issued in Nigeria, marking a major milestone for the domestic Capital Market.
The Issuance, undertaken under the State’s N1 Trillion Bond programme, reinforces the position of Lagos State as a dominant force in long-term infrastructure financing and also reflects sustained investor confidence in the State’s fiscal credibility.
In yet another historic feat, Lagos State successfully floated a N14.8 Billion Green Bond, becoming the country’s first Sub-National to issue a sustainability-focused financial debt instrument.
This pioneering Offer signals the State’s growing commitment to climate-resilient development and innovative funding models.
STL Trustees stated that, serving as the Lead Trustee on both transactions underscores the Company’s reputation for excellence in trusteeship and leadership within Nigeria’s financial ecosystem. The company noted that the milestone Issuances not only strengthen Lagos State’s balance sheet thereby enabling it to undertake critical infrastructure development, but also set an important precedent for sustainable financing across the federation.
Speaking on the sideline at the signing ceremony, the Head of Trust Services at STL, Mrs. Adesola Aje said: “We are proud to celebrate the successful Signing Ceremony of the N230 Billion Lagos State Bond Issuance under the N1Trillion Bond Programme, the largest Sub-National Bond Issuance in Nigeria’s history and also the N14.8 Billion Green Bond.
“At STL Trustees, we are honored to serve as the Lead Trustee on both Issuances, reinforcing our commitment to excellence, trust, and innovation in nation’s financial ecosystem.
“These Issuances not only strengthen Lagos State’s financial position but also set a precedent for sustainable finance across Nigeria. We look forward to continuing our collaboration with visionary institutions driving growth and impact.”
