Niger, Ekiti, Delta’s N79bn bond to mature this year


Niger, Ekiti and Delta states’ N79 billion bond which was raised in the nation’s capital market in 2011 for infrastructural development is due for maturity this year. 

According to statistics made available by the Securities and Exchange Commission (SEC), Delta State government had in 2011 raised N50 billion under the N100 billion Debt Issuance programme for finance development projects.

The bond got 14.5 percent subscription rate and matured this year.

Also, in the same year, Ekiti State government under the N25 billion Debt Issuance Programme, secured N20 billion at 14.5 percent subscription rate to finance developmental projects due for maturity in 2018 at a monthly deduction rate of   N397,196,867.99

Niger State under the N30 billion Debt Issuance Programme raised N9 billion bond for roads construction. According to SEC, the fund has been fully utilized.

For 2019, Ondo State’s N27 billion bond which was raised in 2012 under the state’s N50 billion Debt Issuance Programme, is due for maturity in 2019. The fund was raised to finance developmental projects. Under the repayment scheme, the state has authorized monthly deductions of N315,000,000 for the 1st 24 months and the amount shall rise to N692,132,360.59 from the 25th month.

Gombe State government under the N30 billion Debt Issuance Programme raised N20 billion for the building of township and regional roads, College of Education Billiri, School of Basic and Remedial Studies Kumo, development of secondary schools, purchase of earth moving equipment, mega park, school of nursing and refinancing of existing loan. It matured next year.

Lagos State government Bond under the N167.5bn Debt Issuance Programme raised N80bn in 2012 for the construction of Adiyan Waterworks (Phase II), infrastructure development (roads, rail, buildings and bridges etc), health facilities and redevelopment of Eric Moore Schools (Phase I).

It matured in 2019 while Osun State government’s N30 billion bond under its N60 billion Tranche Debt Issuance Programme for Road Infrastructures, commercial infrastructure (O-Hub, Dagbolu, Osun), urban renewal (Ilesa, Ikire, Osogbo, Ede , nd Iwo), Ede waterworks and refinancing of loan is due for maturity next year.

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