In a bid to finance a gap of N192.49 billion contained in its 2021 budget, the Lagos State Government has announced a plan of exploring several sources including bonds and domestic, foreign borrowing.
Says Red Rail lines will commence operations in 2022
By Emeka Anaeto & Babajide Komolafe
The preferred bidder for the much-expected 4th Mainland Bridge will be announced in the third quarter (Q3) of this year.
Special Adviser for Works and Infrastructure to the Lagos State Governor, Engr Aramide Adeyoye, disclosed this in Lagos at the media presentation of the Facts Behind the Figures of 2021 Lagos State government budget.
She spoke alongside the Commissioner for Economic Planning and Budget, Sam Egube; Commissioner for Finance, Rabiu Olowo; Commissioner for Health, Professor Akin Abayomi; Commissioner for Information and Strategy, Gbenga Omotosho; Commissioner for Transportation, Frederic Oladeinde, and the Commissioner for Education, Folashade Adefisayo.
The economic summit was previously fixed for November 2020, but was postponed to this quarter.
According to a statement, the three-day summit, which will be a hybrid of virtual and live events, is expected to draw participation from different sectors of the economy and across the globe.
“As an ingenuous socio-economic apparatus with significant contributions to the evolution of Lagos State into a major economy in sub-Saharan Africa and an admirable megacity, this edition of Ehingbeti has yet another significant role in the wider Rebuild Lagos Agenda of the current government and its developmental campaigns.
“Over the last two decades, successive governments in Lagos State since the beginning of the fourth republic, have hosted the summit to consistently redefine the dynamics of public-private sector collaborations for development across social and economic indices in the state,” the statement added.
(Bloomberg)
Nigeria’s Lagos state plans to spend more on infrastructure this year to repair the damage inflicted on the country’s commercial hub by violent protests in October, according to its 2021 spending plan.
Capital projects will get 60% of its proposed budget of 1.
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