🇳🇬NigeriaWest Africa
Lagos State seeks legislative approval for N200bn bond and $17m infrastructure funding
via Punch Nigeria2 min read
Lagos State Governor Babajide Sanwo-Olu has requested the Lagos State House of Assembly's approval to raise N200bn through a bond issuance and access approximately $17m in infrastructure financing. These funds are intended to finance key projects before the end of his administration. The requests, detailed in two letters from Commissioner for Finance Abayomi Oluyomi, were read in the House. Speaker Mudashiru Obasa referred both requests to the Joint Committee on Economic Planning and Budget and the Committee on Finance for scrutiny. The first request seeks authorization for Lagos to participate in the Federation Account Allocation Committee Receivables Discounting Programme, which would provide immediate liquidity by leveraging future FAAC allocations to finance critical infrastructure and other capital projects, enabling access to about $17m in third-party funding. The second request seeks legislative approval to issue a N200bn Series V bond under its N1tn Debt and Hybrid Instruments Issuance Programme. Proceeds from this bond would fund priority projects such as the New Massey Children’s Hospital, Lagos Island General Hospital, the Lagos Rail Mass Transit Line, the Omu Creek Bridge, and other strategic infrastructure projects. The Commissioner assured the Assembly of the government’s commitment to prudent financial management and sustainable infrastructure development.
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Al-Ittihad striker George Ilenikhena has reportedly committed his international future to Nigeria after discussions with Super Eagles head coach Eric Chelle. The 19-year-old, who was born in Lagos and moved to France as a child, is eligible to represent both countries but has not played for France at any level. Chelle has reportedly monitored Ilenikhena for almost a year and outlined his plans for the forward. While Ilenikhena was previously weighing options, reports suggest he could initially play for Nigeria’s U-23 team before joining the senior national side. This decision is seen as a boost for Chelle, who is building a squad for the Los Angeles 2028 Olympic Games and strengthening options for the 2027 Africa Cup of Nations qualifiers. Ilenikhena began his professional career with Royal Antwerp, then moved to AS Monaco, and joined Al-Ittihad earlier this year. He previously made UEFA Champions League history as the youngest African player to reach 15 appearances in the competition.
Nigerian striker Rafiu Durosinmi is set to become Genk's most expensive signing, with the Belgian club agreeing to a €10.5 million deal with Pisa. The agreement, which includes performance-related bonuses and a 10 percent sell-on clause for Pisa, will surpass Genk's previous record transfer of €7 million for Theo Bongonda in 2019. Durosinmi, 23, joined Pisa from Viktoria Plzen in January for approximately €9 million but scored only once in 12 appearances. Pisa's decision to sell was influenced by their relegation from Serie A, allowing them to recover most of their investment. Genk is banking on Durosinmi regaining the form he showed in the Czech Republic, where he was highly rated. The Belgian club has a history of developing Nigerian forwards, including Paul Onuachu and Tolu Arokodare, who both achieved success and moved to the Premier League. Standing at 1.92 meters, Durosinmi fits the profile of the powerful center-forward Genk traditionally develops. This move could also enhance his prospects for the Super Eagles, as regular play and goals in Belgium might bring him back into contention for Nigeria's national team.
Anthony Joshua is reportedly motivated to continue his boxing career for an additional three years, according to Matchroom chairman Barry Hearn. This new outlook follows earlier suggestions from promoter Eddie Hearn that 2026 might be Joshua's final year in the sport. Joshua's perspective shifted after a difficult period, including a car accident in Nigeria that resulted in the deaths of two friends and left him with minor injuries. He has since returned to fighting, knocking out Jake Paul in December. Joshua is scheduled to fight Kristian Prenga in Saudi Arabia on Saturday, while Tyson Fury faces Mariusz Wach in Thailand. If both win, a fight between Joshua and Fury is targeted for November. Despite speculation that the Fury bout could be Joshua's last, Barry Hearn states that Joshua has rediscovered his long-term ambition, now discussing fighting until around age 39. Hearn noted that Joshua is in an "amazing place" and highly motivated for the long term, partly fueled by the tragic accident.