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Lagos plans to spend 60% of N1.16 trillion budget on capital projects

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In a bid to repair damages inflicted by hoodlums in October, 2020 following the EndSARS protests turned violence, the Lagos state government declared that it has planned to increase infrastructure spending in 2021 to 60% of its budget.

This was contained in a statement issued by the Lagos state commissioner for Budget and Economic Planning, Sam Egube, on Thursday, January 14.

Egube said: “The projects would be aimed at massive infrastructure renewal and development. While we were recovering from the pandemic, the EndSARS protests and the aftermath of its hijack took us back economically and socially.”

He explained that the state wanted to rise above the challenges that had been a roadblock to development in 2020.

According to him, the state would allocate to its expenditure plans through its projected IGR of N971 billion and debt finance of N192 billion for its budget servicing.

Egube noted that N24 billion would be used to develop the Lagos Smart City project which would see the Lagos Government build 3,000KM of internet fiber network and 2,000 CCTV across the state, while healthcare is 9% of budget spending at N106 billion.

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