ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE   ENGINEERS FAROUK AHMED, GBENGA KOMOLAFE RESIGN, PRESIDENT TINUBU NOMINATES SUCCESSORS TO THE SENATE FOR APPROVAL President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).   The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA).   To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC and Engineer Saidu Aliyu Mohammed as CEO of NMDPRA.   The two nominees are seasoned professionals in the oil and gas industry.   Eyesan, a graduate of Economics f...
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GOV. SANWO-OLU ATTENDS OFFICIAL SIGNING CEREMONY OF LASG SERIES I (100B BOND) AND SERIES II (UP TO 20B SUKUK) TODAY.(PHOTOS).#PRESS RELEASE.

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PGOV SANWO-OLU ATTENDS OFFICIAL SIGNING CEREMONY OF LASG SERIES I (100B BOND) AND SERIES II (UP TO 20B SUKUK) 


AT THE LAGOS HOUSE, ALAUSA, IKEJA, ON TUESDAY, 23RD MAY, 2023


" I am excited to share exciting news that will greatly boost the short and long term development of Lagos. We've raised N134.8 billion in long-tenure bonds, marking another record in accessing capital market funds. 


This investment will fuel key infrastructure projects in sectors such as education, electricity, roads, and agriculture. 


Today, we signed the transaction instruments for the first sets of allotment in the N1 trillion Debt and Hybrid Issuance Programme. This includes a 10-year tenure bond and a shariah-compliant Sukuk. 


With the proceeds from the bond and Sukuk, we'll be executing various projects pre-inspected by the Securities and Exchange Commission. This includes overhauling 33 public schools in Ajegunle, road infrastructure on the Lekki-Epe corridor, drainage works, and more. 


The investments we've secured will not only boost infrastructure development but also stimulate economic growth, create job opportunities, and enhance the quality of life for Lagos residents. 


This successful bond issuance demonstrates Lagos' resilience and the trust investors have in our ability to judiciously deploy funds for development. I want to express my gratitude to the investors who believe in our tremendous potential. 


We remain committed to transparency and disciplined financial decisions as we build a Greater Lagos for generations to come.".


PIX 1166: Lagos State Governor , Mr Babajide Sanwo-Olu (middle), Deputy Governor, Dr Obafemi Hamzat (left) and Commissioner for Finance, Dr Rabiu Olowo (right) during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.


PIX 5090 L-R: Lagos State Governor , Mr Babajide Sanwo-Olu; Commissioner for Finance, Dr Rabiu Olowo and committee chairman on Finance, Lagos House of Assembly, Hon Rotimi Olowo  during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.


PIX 1243 L-R: Permanent Secretary, Debt Management Office; Lagos State, Mrs Rukayat Alake Sanusi;  Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo, SAN; Deputy Governor, Dr Obafemi Hamzat; Managing Director, Chapel Hill Denham Advisory, Mrs Kemi Awodein; Governor Babajide Sanwo-Olu; Director, Lotus Financial Services Ltd., Mrs Ajara Adeola; Commissioner for Finance, Dr Rabiu Olowo;  committee chairman on Finance, Lagos House of Assembly, Hon Rotimi Olowo and Commissioner for Economic Planning and Budget, Mr Sam Egube during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.


PIX 5092 L-R: Lagos State Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo, SAN; Deputy Governor, Dr Obafemi Hamzat; Governor Babajide Sanwo-Olu; Commissioner for Finance, Dr Rabiu Olowo and his counterpart for Economic Planning and Budget, Mr Sam Egube during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.


PIX 5103 L-R: Lagos State Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo, SAN; Deputy Governor, Dr Obafemi Hamzat;  Managing Director, Chapel Hill Denham Advisory, Mrs Kemi Awodein; Governor Babajide Sanwo-Olu; Director, Lotus Financial Services Ltd., Mrs Ajara Adeola; Commissioner for Finance, Dr Rabiu Olowo and committee chairman on Finance, Lagos House of Assembly, Hon Rotimi Olowo during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.


 


PIX 1330: Lagos State Governor , Mr Babajide Sanwo-Olu, flanked by Deputy Governor, Dr. Obafemi Hamzat (left), Commissioner for Finance, Dr Rabiu Olowo (right) and others during the official signing ceremony of the State Government Series I (100b Bond) and Series II (up to 20b SUKUK) at the Lagos House, Alausa, Ikeja, on Tuesday, 23 May 2023.

More photos below. 





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