Business

Lagos N200b bond oversubscribed by 55% at N310Billion

Published

8 months ago

November 18, 2025

525 Views

In a resounding vote of confidence from the investment community, Lagos State has concluded its bookbuild for a groundbreaking bond issuance, exceeding all expectations and demonstrating strong investor appetite.

The State’s offering, comprised of a ₦200 Billion Conventional Bond and a ₦14.8 Billion Green Bond, has been met with extraordinary enthusiasm, paving the way for crucial infrastructure projects across the bustling metropolis.

The conventional bond, originally slated for ₦200 billion, received an astounding 55% oversubscription, attracting a remarkable ₦310 billion in investment commitments.

This signifies the robust trust investors have in Lagos State’s economic prospects and its commitment to sustainable growth.

Adding to the success, the ₦14.8 billion Green Bond, designed to finance environmentally friendly projects, was met with an even greater level of enthusiasm.

It attracted a phenomenal ₦29.29 billion in subscriptions, representing a staggering 97.7% oversubscription.

This underscores the growing global interest in sustainable investments and Lagos State’s commitment to a greener future.

This historic achievement highlights Lagos State’s financial strength and its ability to attract significant investment to drive its ambitious development agenda.

The proceeds from these bonds will be instrumental in funding vital infrastructure projects, enhancing the quality of life for residents, and fostering economic prosperity across the state.

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Business

Dangote Cement targets 20% emissions cut by 2030

“By 2027, all fleet trucks operating in Nigeria, except at the Gboko plant, will run on Compressed Natural Gas (CNG), with electric trucks scheduled for introduction in 2026.”

Published

4 hours ago

July 6, 2026

OCHEFA

22 Views

Dangote Cement Plc has unveiled a sustainability roadmap aimed at reducing its carbon emissions by 20 percent and expanding its installed production capacity to 80 million tonnes per annum (MTPA) by 2030.

The plans were announced during the company’s 17th Annual General Meeting (AGM) in Lagos, where Chairman, Emmanuel Ikazoboh, presented the 2025 Sustainability Scorecard to shareholders and reaffirmed the company’s commitment to embedding environmental, social and governance (ESG) principles at the core of its operations in line with Dangote Industries Limited’s Vision 2030.

Ikazoboh said sustainability had evolved from a compliance obligation into a central business strategy designed to drive growth, resilience and long-term value creation.

As part of its decarbonisation agenda, the company disclosed that it approved plans in 2024 to reduce its net carbon dioxide (CO₂) emissions intensity by 20 percent while accelerating the transition to cleaner transportation.

He said, “By 2027, all fleet trucks operating in Nigeria, except at the Gboko plant, will run on Compressed Natural Gas (CNG), with electric trucks scheduled for introduction in 2026.”

Business

Dangote exports N757bn jet fuel to Europe in June

The report stated that flows of jet fuel from Nigeria to Europe rose from 232,000 metric tonnes in May to 466,000 metric tonnes in June, the highest volume exported from the country to Europe since Nigeria became a net exporter of jet fuel in 2024, when the Dangote Refinery commenced aviation fuel production.

Published

7 hours ago

July 6, 2026

OCHEFA

34 Views

Latest data from the S&P Global Commodity Insights, indicates that Dangote Petroleum Refinery exported about 466,000 metric tonnes of jet fuel to Europe in June, valued at an estimated N757 billion.

According to the market report, the refinery’s exports came as the European jet fuel market turned increasingly bearish following a sharp decline in prices from the highs recorded during the Middle East conflict.

The June export volume is equivalent to about 582.5 million litres of jet fuel. At an estimated domestic value of N1,300 per litre, the shipment is worth about N757.25 billion.

On the other hand, aviation fuel exports from the United States fell sharply in the past months.

The report showed that jet fuel exports from the United States to Europe declined steadily over the same period, falling from a record 818,000 metric tonnes in April to 560,000 metric tonnes in May and further to 399,000 metric tonnes in June, leaving Nigeria as a bigger supplier to Europe during the month.