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Lagos needs $15b for infrastructure, says Sanwo-Olu

By Seye Olumide (Ibadan) and Ngozi Egenuka (Lagos)
19 November 2021   |   4:07 am
Lagos State Governor, Babajide Sanwo-Olu, has disclosed that the infrastructure needs of the state, in the face of rising population and limited geography, exceed $15 billion.

FILES] Sanwo-Olu. Photo/FACEBOOK/ jidesanwooluofficial

• Gani Adams wants gov to replicate Jakande’s legacies

Lagos State Governor, Babajide Sanwo-Olu, has disclosed that the infrastructure needs of the state, in the face of rising population and limited geography, exceed $15 billion.

He noted that as a low-lying city with over 22 million citizens, Lagos is vulnerable to all the challenges of a sprawling, densely populated, climate-challenged, fast-growing megacity.

He made this known at the Lagos State Investment Roundtable, themed, ‘Attracting Investment for Economic Recovery’, in Lagos yesterday. He told participants: “We strongly believe that the continued growth and success of Lagos is premised on the strength and diversity of our partnerships. It is such strategic partnerships that account for Lagos being the leading recipient of local and foreign direct investment in Nigeria.

“It is estimated that, in the last few years, about 80 per cent of the investment into Nigeria, has come into Lagos. These investments remain vital to our economic growth and wellbeing, supporting tens of thousands of jobs and livelihoods across the city.”

Special Adviser, Sustainable Development Goals and Investment, Solape Hammond, pledged that the state will continue to demonstrate commitment as a regional financial hub by strengthening all regulatory frameworks, improving internal security and reducing administrative bottlenecks.

Meanwhile, Aare Ona Kakanfo of Yoruba land, Gani Adams, has urged Sanwo-Olu to replicate legacies of the late Alhaji Lateef Jakande. He disclosed this, yesterday, at the 2021 Ajagunmale Festival, held at Lekki Guest House, Lekki, Lagos.

“The Low Cost Housing Estate built during Jakande’s years was notable and enduring. His policies outlived his administration. Therefore, I urge Governor Sanwo-Olu to look beyond today and build an enduring legacy,” he said.