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2024 BUDGET: LAGOS TO INVEST N550.689 BILLION ON INFRASTRUCTURE

The Lagos State government has said it will invest N550.689 billion to develop and maintain its infrastructure in 2024.

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…Establishes a Capital to Recurrent ratio of 58:42

The Lagos State government has said it will invest N550.689 billion to develop and maintain its infrastructure in 2024.

Commissioner of Economic Planning and Budget, Ope George disclosed on Wednesday during the State 2024 Budget Analysis at the Bagauda Kaltho Press Centre, in Alausa-Ikeja.

George said the amount N550.689bn on Infrastructure represents 24.28percent of the entire budget is part of the ₦1.315trillion capital budget for the year.

While highlighting some of the infrastructure targeting the Budget, he said there would be the continuation of ongoing transportation projects, such as the expansion of the rail network, road construction, completion of the Blue and Red Lines, and other metro projects within the State.

The Commissioner said the Budget would also address development of affordable housing schemes and urban renewal projects in addressing the housing deficit in the State by injecting a total of N55.924billion representing 2.5percent of the entire Budget. Some of the social housing projects include Completion of 444 units of building Projects at Sangotedo Phase ll; Completion of 420 units of building Projects at Ajara, Badagry; Phase Two Construction of 136 units of building Projects at Ibeshe ll, among others.

He added that there would be focus on some “Special Projects: Continuous progress on major infrastructure projects like the Lekki-Epe International Airport, the Omu Creek, Blue and Red lines etc. It should be noted that most of these projects will be prioritized.”

L-R: Permanent Secretary, Ministry of Economic Planning and Budget, Mr. Ibrahim Obajomo; Commissioners – Mr. Abayomi Oluyomi (Finance); Ms. Abisola Olusanya (Agriculture); Mr. Ope George (Economic Planning and Budget) and the Special Adviser to the Governor on Economic Planning and Budget, Mr. Lekan Balogun during the Lagos State govt 2024 Budget Breakdown at the Bagauda Kaltho Press Centre, the Secretariat, Alausa-Ikeja, on Wednesday, January 31, 2024

Meanwhile, this year budget according to the Commissioner intends to complete the front-loaded and ongoing infrastructure (such as the new Massey Children’s hospital, Omu Creek, Opebi-Mende-Ojota Link Bridge, Stadia, Rehabilitation of Public Schools, Lekki-Epe and Lagos-Badagry Expressways etc.) and commence the awaiting Fourth Mainland Bridge that will connect Ikorodu to the Island.

George said, “The State’s commitment and continuous support to agriculture will include increased funding for projects and programmes, comprehensive training programs, and incentives tailored for farmers. Simultaneously, ongoing aid for Micro, Small, and Medium Enterprises (MSMEs) remains a priority to stimulate economic growth and foster job creation.

“The State’s 5-year Agric roadmap stands as a testament to this commitment aiming to bolster support for farmers and enhance our overall food systems. This initiative prompted the State to allocate a total sum of N44.33 billion towards Central Food Security, fostering projects such as the Cattle Feedlot Project, Fish Processing Hub programs, and Wholesale Produce Hub & Market. These endeavors aim to elevate food quality, reduce prices, and optimize the Agricultural sector in the long run.”

In order to boost Human Capital Development through Education and Healthcare, which is of deep interest to the State due to the administration’s belief that a population that is healthy, skilled, and safe, can only convert the opportunities in the State to value. The State has allocated 13.35percent of the total budget to personnel cost in Y2024, an increase of 33percent compared to Y2023. The N180.693 billion in the Education Sector will allow continuous Investment in educational infrastructure, digital skills initiatives, and vocational education, thus enhancing learning opportunities for every child in the State.

George has said that the total budget size of ₦2.267 trillion will be funded from a total revenue estimate of ₦1.880 trillion, comprises of Internally Generated Revenue (IGR): 1.189 trillion; Capital Receipts 94.605 billion and Federal Transfer 596.629 billion, adding that LIRS is expected to contribute 63% (N750 billon) of the projected TIGR, and about 23% (N283.567bn) is expected to be generated by other MDAs of government.

“We shall achieve this by deepening the revenue and increasing the tax net through the deployment of technology, economic intelligence, data gathering and analysis amongst other initiatives. There are huge revenue generating opportunities in the informal sector, including real estates, transportation, and trade, he said.”

He also noted, “The deficit of ₦387.125bn is projected to be funded by a combination of Internal, External Loans and Bond Issuance.”

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Pray For Us Politicians, We Are The Problem Of Nigeria — Peter Obi

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Peter Obi, the 2023 Labour Party presidential candidate, has asked Nigerians to pray for political leaders, stating that politicians are the primary cause of the country’s challenges.

 

Speaking on Sunday at the thanksgiving service to mark Oyo state’s 50th anniversary at the Cathedral of St. Peter Anglican Church, Aremo, Ibadan, the Oyo state capital, Obi said politicians are responsible for the country’s challenges.

 

“I want to make a request from Nigerians. Do remember us politicians in your prayers. We are the problem of Nigeria, no other person,” he said.

 

“Nigeria is not a poor country, it is poorly governed. Remember us in your prayers that God should touch our hearts to use public money for public good. That is what is required.”

 

In a post on X after the event, Obi thanked Seyi Makinde, governor of Oyo state, for the opportunity to speak at the service.

 

He recalled that at the beginning of Makinde’s administration, the governor invited him to address the maiden executive council (exco) retreat, where they spent a full day discussing governance and leadership.

 

“I am pleased to note that the governor has remained consistent in his approach. Beyond the visible infrastructure across the state, his performance is widely discussed and appreciated by Oyo people wherever they are,” Obi said.

 

The former Anambra governor also commended Makinde for his remarks at the thanksgiving service, particularly on building strong institutions rather than relying on individuals.

 

“His focus on continuity, systems, and shared responsibility reflects a statesmanlike vision and offers reassurance that the progress of Oyo State will be sustained beyond any single administration,” he added.

 

Obi further thanked Williams Aladekugbe, bishop of Ibadan north, for what he described as a timely and profound sermon.

 

“He reminded us that thanksgiving is not merely a ritual but a moral discipline that nurtures humility, responsibility, and service to the common good,” Obi said.

 

He called on residents of Oyo state to continue supporting the governor and to pray that God would guide leaders to work for the common good of the state and its people.

 

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Tinubu Celebrates Fela As Philosopher Of Freedom After Historic Grammy Win

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President Bola Tinubu has paid tribute to late Afrobeat legend, Fela Anikulapo Kuti, following his posthumous Grammy Lifetime Achievement Award.

Tinubu described Fela as more than a musician, calling him a fearless voice of the people, a philosopher of freedom and a revolutionary force who confronted injustice through music.

The president said Fela’s courage, creativity and conviction defined a generation and continued to inspire audiences across the world.

In a tribute issued on Sunday in Abuja, Tinubu said Fela’s legacy had transcended time, describing him as eternal in cultural and spiritual relevance.

He noted that Fela became the first African to receive the Recording Academy of America’s Lifetime Achievement Award, though posthumously.

The president said the honour affirmed Fela’s enduring global influence and the foundational role he played in shaping modern music from Africa.

Tinubu said Fela defined Afrobeat, with his influence evident across generations of Nigerian musicians and in Afrobeats and global sounds.

“He defined Afrobeat, and you can hear and see his influence in generations of Nigerian musicians and in Afrobeats and beyond.

“Fela lives,” the president said. (NAN)(www.nannews.ng)

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Benue Killings: FG To Arraign Yelwata Massacre Suspects Monday

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The Federal Government is scheduled to arraign suspects linked to the Yelwata killings on Monday in Abuja, with the Attorney General of the Federation finalizing the charges.

 

Justice Abdul-Malik is expected to preside over the arraignment at the Federal High Court.

 

This was disclosed in a statement released to journalists on Sunday by the Office of the Attorney General of the Federation and Minister of Justice.

 

According to the statement, the accused persons will be brought before Justice Joyce Abdulmalik of the Federal High Court sitting in Abuja, following what it described as “after a painstaking investigation and collaboration by government agencies.”

 

“The Office of the Attorney General of the Federation and Minister of Justice wishes to assure Nigerians that justice will be ensured in the matter, to send a strong signal to the enemies of the country acting under any disguise.”

 

The statement, signed by the media aide to the AGF, Mr. Kamarudeen Ogundele, further noted that “The administration of President Bola Ahmed Tinubu is committed to the protection of the lives and property of all, as enshrined in the Constitution.”

 

The Yelwata killings took place in June 2025 in the Yelwata community, located in Guma Local Government Area of Benue State.

 

The violence reportedly started late on June 13, 2025, and spilled into the early hours of June 14, when suspected armed herdsmen launched coordinated attacks on residential buildings, a local market, and a Catholic mission.

 

During the assault, houses were torched, victims were brutally mutilated, and the attackers exchanged gunfire with security operatives.

 

Reports indicate that more than 100 people lost their lives, while approximately 3,000 residents were forced to flee their homes.

 

President Bola Ahmed Tinubu had earlier condemned the massacre and directed security and law enforcement agencies to track down those responsible and ensure they are prosecuted.

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