Lagos - A total of N255.5 billion was sourced through bonds from the capital market by the federal government and seven states in the country between 2013 and 2004, a new release from the Nigerian Stock Exchange (NSE) has shown.
The amount was raised to shore up their revenue bases and developmental needs, reports Daily Independent.
The federal government took the large chuck of the fund, amounting to of N85 billion or 33 percent.
Lagos State, which accessed the market twice during this period, lead the pack among the states raising a total of N137 billion from the market.
Read more at Daily Independent.
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