Sanwo-Olu sets to inaugurate 1.4 km Agege Pen Cinema flyover
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By Olasunkanmi Akoni
Lagos State Governor, Mr Babajide Sanwo-Olu, is scheduled to flag off the iconic 1.4 kilometre Pen Cinema FlyOver Bridge, Agege, tomorrow, Friday, March 5, 2021.
Recall that the bridge was initially scheduled to be commissioned about last week but was rescheduled due to exigencies.
The Agege Pen Cinema Flyover project started in 2017 under the last administration of Akinwunmi Ambode.
Sanwo-Olu in line with his promise of completing all ongoing projects across the state visited the project site in January 2020 for assessment.
Sanwo-Olu again visited the project site in December 2020 to ensure that all was in order for its commissioning in the best possible time.
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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.
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Lagos State government, on Thursday, said it is targeting a total of N723.817bn Internally Generated Revenue (IGR) for the 2021 fiscal year, bringing the monthly figure to N60.31bn.
The State Commissioner for Economic Planning and Budget, Mr Sam Egube, disclosed this while giving the 2021 budget breakdown at a press briefing which took place at Alausa, Ikeja, saying the state had earmarked N15bn for the Rebuilding Lagos Project/Trust Fund, in the aftermath of #EndSARS destruction of Lagos in October 2020.
Egube disclosed that the total size stands at ₦1.164trn, saying it would be funded from a total revenue estimate of ₦971.028billion, comprising total Internally Generated Revenue of N723.817bn, with Capital Receipts standing at N71.811bn, while Federal Transfer is projected at N175.400bn.