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Ogun State Government has indicated that it would be approaching 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) on 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, who was given the privilege of beating the closing gong for the market, 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.
Photo Caption: From Left shows Bola Adeeko, Head, Corporate Services Division, The Nigerian Stock Exchange (NSE); Aderemi A. Adetayo, Chief Executive Officer, Moving Media; Oscar N. Onyema, OON, Chief Executive Officer, NSE, His Excellency, Senator Ibikunle Amosun, Executive Governor, Ogun State; Abimbola Ogunbanjo, President, NSE and Sola Adeeyo, Chairman, AxaMansard Plc during a Closing Gong Ceremony at The Exchange today.
