Lagos allocates 27.3% of its budget to infrastructure
According to the Lagos State Government, 27.3% of its whole 2023 budget, or N482.86 billion, will be used to build new infrastructure for its residents during the year.
Disclosing this at the press conference at the Bagauda Kaltho Press Centre in Alausa, Ikeja, in Tuesday, during the analysis of Year 2023 Budget, was the state Commissioner for Economic Planning and Budget, Mr. Samuel Egube.
He said the 2023 Budget, christened ‘Budget of Continuity’, was prepared to continue the good work of the administration, especially in delivering reliable and sufficient infrastructure that meets the needs of a 21st Century city.
Egube said: “The State is totally committed to ensuring that the dividend from its investments in Integrated Transport Infrastructure, which will materialise into the birth of the fully functional light rail (Red-Blue) system, the first of its kind by a sub-national Government in Africa and the 37km Fourth Mainland Bridge will be felt by the citizens of the State. These will reduce commute time to millions of Lagosians, reduce congestion on the existing Carter, Eko, Third Mainland Bridges and Ikorodu Road thus increasing productivity, quality of life, as well as improving the overall transportation system in the State.”
The Commissioner highlighted the infrastructure Budget captures in the budget as follows: Construction of the second phase of the blue line from Mile 2 to Okokomaiko, Completion of 8 Stadia across the 5 IBILE divisions of Lagos State, to facilitate youth development, engagement and community sports, Continuous Construction and Rehabilitation of schools across the state to significantly improve access to quality education, Completion of 130 bed New Massey ultra-modern and fit for purpose Pediatric programmed and emergency general hospital that will be the largest specialist children hospital in Sub- Saharan Africa.
Others include, the Completion of the modern 280 beds General Hospital serving the people of Ojo and its environs which is currently at 47 per cent completion, Completion of the mental health facility in Ketu Ereyun in Epe local government, Completion of the Opebi Link bridge to Maryland that will improve significantly travel time and alternative route options the axis, Rehabilitation/Upgrading of Phase II Eti-Osa – Lekki-Epe Expressway Project from Eleko T-Junction – Abraham Adesanya among others.
He Stated that “most of these projects are contractor funded, with structures that provide very beneficial payment terms that gives the state upfront value (front loaded) ahead of payments; thereby increasing the sustainability benefits to the state.”
