Tuesday, October 11, 2016 4:37 pm
By Kazeem Ugbodaga
Lagos State Governor, Akinwunmi Ambode on Tuesday disclosed that the state government has spent N166.8 billion on capital projects in the last nine months of this year.
Ambode disclosed this while speaking at the 5th Quarterly Town Hall meeting for Lagos Central Senatorial District held at the Teslim Balogun Stadium, Surulere, Lagos, Southwest Nigeria.
According to Ambode, “A review of the 2016 budget shows that our State generated a total revenue of N97.3 billion in the last quarter and had a total expenditure of N110.2 billion considering the fact that our cash reserve has remained positive. We expended N55 billion on capital expenditure in the last quarter.
“Our budget performance for January to September is 69% as against 65% for the same period in 2015. A total of N166.8 billion has been spent on capital projects this year more than double the N53.6 billion spent for the same period last year. We believe strongly that continuous increase in the capital expenditure spending is a necessity at this particular period,” he said.
The governor stated that in this quarter, “we will concentrate more resources on capital projects. We will put money in the hands of our local contractors and through them stimulate and re-flate the economy. Immediate payments will be made to contractors handling health sector and education sector projects within the next two weeks.”
Ambode further said the completion and handing over of 114 roads across the 57 Local Governments and Local Council Development Areas in the last quarter was a major achievement of his administration, disclosing that in the next three weeks, his administration would commence the process of bid invitation for the construction of additional 114 roads across communities in the state.
The governor also revealed that the state government would roll out all empowerment programmes immediately to assist all youths, artisans and the needy, while the funding for the N500 million Lagos State Persons Living with Disability Fund had been provided and that beneficiaries would start getting support from this quarter.
“We have achieved a major reduction in the travel-time on the Third Mainland bridge and other axis with the construction of the Lay-Bys at Oworonshoki and Ketu.
“It is my strong desire to further eliminate the pains of Lagosians who travel on this axis by completing the Ojodu-Berger Multi-project which consists of a pedestrian bridge, lay-by and slip road. We have already reduced the accident rate on that axis and will take this innovation to other parts of the State including Ajah and Lagos Central.
“We have commenced the removal of Three roundabouts on the Lekki-Epe expressway and replacing them with signalized junctions. Lay-bys and dedicated turning lanes will be created at these junctions to further ease the flow of traffic. In realization of our vision, we are creating new tourist locations in Lagos West and Lagos East Senatorial Zones. We have embarked on the Epe-Marina and Badagry-Marina lagoon reclamation projects with a view to providing appropriate infrastructure for tourist activities in Badagry and Epe,” he stated.