Ogun State Government has indicated that it’s readiness to approach the capital market to raise funds to support the infrastructural development of the state.
Ogun State Governor, Senator Ibikunle Amosun, who led a delegation from the state to the Nigerian Stock Exchange (NSE) last Thursday, said the improved financial position of the state and key policies implemented by his government has put the state in a better position to access funds from the capital market.
He said the planned capital raising would enable the government to extend its infrastructure development to many other areas of the state.
Amosun, said the initial reluctance of the state to raise bonds was due to the low internally generated revenue at the inception of his administration adding that the internally generally revenue has increased significantly to between N6 billion and N7 billion.
Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, said the Exchange is looking forward to collaborating with the state on many fronts.
