{"id":16440,"date":"2017-08-11T12:11:25","date_gmt":"2017-08-11T11:11:25","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=16440"},"modified":"2017-08-11T12:11:25","modified_gmt":"2017-08-11T11:11:25","slug":"lagos-floats-n50bn-bond-waste-management","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/","title":{"rendered":"Lagos floats N50bn bond for waste management"},"content":{"rendered":"<p class=\"p3\"><span class=\"s3\">The<\/span><span class=\"s2\">\u00a0Lagos State Government yesterday said it will be raising N50 billion from investors to enable it achieve cleaner environment through effective waste management system.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">Briefing investors on the bond issuance, the state\u2019s Commissioner, Ministry of Environment, Babatunde Adejare said the Lagos State Waste Management Authority (LAWMA) currently operates operates in partnership with private sector participants for collection of wastes within the state.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">He said the current waste management framework, specifically the residential and general waste management system has degenerated over the years and needs to be improved through private sector participation.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">He said that in an effort<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>to create a<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>waste management and recycling solution, the Lagos state Ministry of Environment and an environmental utility group, Visionscape have concluded plans to issue a N50 billion project-backed corporate bond in two tranches.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">The first tranche of N27 billion will be offered from Monday August 14, 2017 at 17.5 per cent coupon for a with five-year tenor. The offer ends on August 25, 2017.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">The fund, he said, would be used to finance the mobilization of assets for residential and general waste collection under the Cleaner Lagos Initiative of the Ministry of Environment of Lagos State. It will also be deployed to the renovation and upgrade transfer loading stations and landfills in the state.<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>It has an issue rating of A+ by Augusto and Co. Limited at an issue price of N1,000 per unit.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">Adejare said<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>the initiative is an example of how the private sector and government can work together for sustainable development.<\/span><\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"p4\"><span class=\"s2\">He affirmed the government\u2019s resolve to rid the state of refuse heaps and solicited the support of all residents for the soon-to-be fully launched Cleaner Lagos Initiative.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">The cleaner Lagos initiative is a programme launched by the Lagos State Governor, Akinwunmi Ambode to effectively manage waste collection and create jobs across the 37 local government areas<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>in the state. He said that the project will create over 27,500 jobs.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">According to Adejare, with the passage of the Environmental Management and Protection Law 2017, Lagos State has<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>the power to involve the private sector in the state\u2019s waste management system.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">\u201cWe are building a new culture of waste management in Lagos State. We are optimistic that all communities in Lagos State will see overall benefits of this drive to put an integrated waste management system in place,\u201d he said.<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">He added: \u201cWe are building a new culture of waste management in Lagos State. We are optimistic that all communities in Lagos State will see overall benefits of this drive to put an integrated waste management system in place.\u201d<\/span><\/p>\n<p class=\"p4\"><span class=\"s2\">Explaining the benefits of the bond, Executive Director Eczellon Capital Mr. Dipo Wintoki said the N50 billion bond issuance is a corporate entity bond and comes with guaranty. He said the<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>fund will enable the state government achieve Cleaner Lagos Initiative.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The\u00a0Lagos State Government yesterday said it will be raising N50 billion from investors to enable it achieve cleaner environment through effective waste management system. Briefing investors on the bond issuance, the state\u2019s Commissioner, Ministry of Environment, Babatunde Adejare said the Lagos State Waste Management Authority (LAWMA) currently operates operates in partnership with private sector participants &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":16441,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[2520],"coauthors":[2391],"class_list":["post-16440","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-cleaner-lagos"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lagos floats N50bn bond for waste management - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lagos floats N50bn bond for waste management - National Wire\" \/>\n<meta property=\"og:description\" content=\"The\u00a0Lagos State Government yesterday said it will be raising N50 billion from investors to enable it achieve cleaner environment through effective waste management system. Briefing investors on the bond issuance, the state\u2019s Commissioner, Ministry of Environment, Babatunde Adejare said the Lagos State Waste Management Authority (LAWMA) currently operates operates in partnership with private sector participants &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-11T11:11:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/08\/download-2-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"226\" \/>\n\t<meta property=\"og:image:height\" content=\"223\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/08\/download-2-1.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/08\/download-2-1.jpg\",\"width\":226,\"height\":223},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/\",\"name\":\"Lagos floats N50bn bond for waste management - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/#primaryimage\"},\"datePublished\":\"2017-08-11T11:11:25+00:00\",\"dateModified\":\"2017-08-11T11:11:25+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lagos floats N50bn bond for waste management\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Lagos floats N50bn bond for waste management - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/lagos-floats-n50bn-bond-waste-management\/","og_locale":"en_US","og_type":"article","og_title":"Lagos floats N50bn bond for waste management - National Wire","og_description":"The\u00a0Lagos State Government yesterday said it will be raising N50 billion from investors to enable it achieve cleaner environment through effective waste management system. 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