Connect with us

News

Well Support Massive Investments In Lagos — FG

Published

on

Well Support Massive Investments In Lagos — FGPresident Muhammadu Buhari has pledged that the Federal Government will support more massive invest­ments in Lagos State to boost its economic potential as one of the world’s fastest-growing megacities.

The president made the pledge on Tuesday in a vid­eo goodwill message to the Ehingbeti Lagos Economic Summit, themed ‘For a Great­er Lagos: Setting the Tone for the Next Decade.’

According to him, his administration recognises Lagos as central to the eco­nomic fortunes of Nigeria and has in the last few years demonstrated commitment to supporting it unleashes its full socio-economic potential.

“One of the significant ways in which our support has manifested to Lagos State is in the special federal fund­ing that we approved in 2020 in acknowledgement of the state being an epicentre of the coro­navirus pandemic.

“The challenges of Lagos must therefore be very clearly seen as part of the challenges of Nigeria, and the Federal Government will support La­gos to overcome its challenges and to thrive socially and eco­nomically.

“The Presidential In­frastructure Development Fund (PIDF) is investing in the reconstruction of the La­gos-Ibadan Expressway, while the Apapa-Oshodi-Oworon­shoki Expressway is a flag­ship project of our Road Infra­structure Tax Credit Scheme, also known as Executive Or­der 7 of 2019.

“It was also this admin­istration which granted approval to the Lagos State government to rebuild the International Airport Road, a major road that links the busiest airport in sub-Saha­ran Africa to the continent’s fifth-largest economy.

“The Federal Government is today completing the Stan­dard Gauge Railway Line that will link Lagos to Ibadan in the first instance, and from there connect to Abuja and Kano, and bring ease and ef­ficiency to what is Nigeria’s busiest transportation corri­dor.

“Just last month, this new rail line achieved a milestone extension into the Port Com­plex in Apapa, setting the stage for a long-overdue decongestion in that area,” he said.

On the investment plan to revamp the National The­atre, the president told the 8th Economic Summit that his government had granted approval for the temporary transfer of the iconic federal asset on the Lagos landscape, to the Bankers Committee.

He said the committee would invest in upgrading the National Theatre and de­veloping it into a world-class creative hub.

Buhari expressed confi­dence that enterprising young people in Lagos would be the biggest beneficiaries of the National Theatre when fully upgraded into a world-class hub.

“Speaking of young peo­ple, we are aware of just how central they are to the Lagos economy, and to Nigeria as a whole.

“In the creative arts, cul­ture and technology sectors, we are determined to continue to open up opportunities by which they can achieve their dreams and aspirations; as well as thrive in a safe, secure and increasingly prosperous country,” he said. ­

The president highlight­ed various other initiatives of the Federal Government being implemented in Lagos, including the National So­cial Investment Programme, the Energizing Economies Programme, the Economic Sustainability Plan, among others.

While commending the Lagos State government for its partnership and col­laboration with the Federal Government on the human development programmes, the president stressed the importance of understanding between national and subna­tional governments.

“Speaking of young peo­ple, we are aware of just how central they are to the Lagos economy, and to Nigeria as a whole.

“In the creative arts, cul­ture and technology sectors, we are determined to continue to open up opportunities by which they can achieve their dreams and aspirations; as well as thrive in a safe, secure and increasingly prosperous country,” he said. ­

The president highlight­ed various other initiatives of the Federal Government being implemented in Lagos, including the National So­cial Investment Programme, the Energizing Economies Programme, the Economic Sustainability Plan, among others.

While commending the Lagos State government for its partnership and col­laboration with the Federal Government on the human development programmes, the president stressed the importance of understanding between national and subna­tional governments.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ADS

Like us on Facebook

ADVERT