Gov. Bala Mohammed secures NENI Series I Private Bond for Bauchi State

The governor of Bauchi state, Senator Bala A. Mohammed secured a successful issuance of our NENI Series I Private Bond for Bauchi State. 

Nigeria News 247 confirmed the report that Governor Bala A. Mohammed of Bauchi State has secured NENI Series I Private Bond for Bauchi State.

Governor Mohammed posted this achievement on his X account which reads:

“I’m thrilled to share some fantastic news. Bauchi State has achieved a significant milestone with the successful issuance of our NENI Series I Private Bond.”

“This is a momentous occasion for our state, and I am incredibly proud of what we have accomplished together. We partnered with Emerging Africa Capital Advisory Limited, a leading investment banking group in Africa, and thanks to their expertise and the trust of our investors, we achieved a remarkable 100% subscription rate.”

“This translates to N41 billion raised – a record for Bauchi State in accessing capital market funds. These funds will be instrumental in fueling key infrastructure projects across the state, with a particular focus on our road network.”

“The proceeds from the bond issuance will be used to finance priority projects that directly align with our administration’s vision for transformative infrastructural development.”

According to him the projects include:

1. Construction of two flyovers at Wunti Market and Central Market.
2. Dualization of the GSS Ningi-Gundiba road and construction of the Ningi Bypass Federal Highway.
3. Rehabilitation of the Adamami-Disina-Jamaare Road.
4. Complete rehabilitation of Dindima Yashi Maina Maji Road.
5. Construction of Gyaljuale-Doka-Hunu-Saminaka Gwaram Leme Road.
6. Dualization work from College of Legal and Islamic Studies Misau.
7. Dualization work from Setraco Roundabout to Emir’s Palace Azare Misau Road.
8. Construction of a 2.6km road to Bauchi State University.
9. Construction of Galadamari Road.
10. Design and construction of Boi Gambar Sera Lumlere Road.

He cited that these crucial infrastructure projects are expected to deliver significant benefits to the people of Bauchi State. We anticipate a boost in socio-economic development, poverty reduction, and a strengthened regional and national economy through the improved flow of goods and services, particularly agricultural produce, he said.

“The success of this bond issuance is a testament to Bauchi’s strength and the trust investors have placed in our ability to manage funds effectively. I want to express my sincere gratitude to all the investors who believe in our tremendous potential.”

Governor Mohammed reiterated that this is just the beginning of an exciting journey for Bauchi State. With these funds, he is well on our way to achieving goals for a more prosperous future for greater Bauchi.