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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.
…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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Delta Police Officer Detained After Viral Video Shows Extrajudicial Killing
The Nigeria Police Force has confirmed the arrest of ASP Nuhu Usman for the extrajudicial killing of 28-year-old Mene Ogidi in Effurun, Delta State.
The incident, which occurred on Sunday sparked widespread outrage after police operatives from the Effurun Area Command responded to reports from the Benin Motor Park along the Warri–Sapele Expressway.
A viral video showed the suspect handcuffed, seated on the ground, and pleading for his life before being shot in broad daylight.
The suspect had reportedly been apprehended by members of a transport union while attempting to waybill a parcel containing a Beretta pistol and four rounds of ammunition.
Police said that while efforts were underway to take the suspect into custody, the team leader, ASP Usman, discharged his firearm in violation of regulations, resulting in the suspect’s death.
“The leadership of the Nigeria Police Force has directed the immediate transfer of the officer and his team to Force Headquarters, Abuja, where they will face the Force Disciplinary Committee for summary disciplinary measures and prosecution.
“The Inspector-General of Police extends his condolences to the family of the deceased and assures them that justice will be served in accordance with the law. He further urges members of the public to remain calm and law-abiding as the disciplinary and legal processes take their course,” the statement read.
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Lagos 2027: GAC Endorses Deputy Governor Hamzat As APC Consensus Candidate
The Governance Advisory Council (GAC), the highest decision-making body of the All Progressives Congress (APC) in Lagos State has officially adopted Deputy Governor Dr. Kadri Obafemi Hamzat as the consensus candidate for the 2027 governorship election.
On Monday, Lagos State Governor Babajide Sanwo-Olu has expressed his support for the bid by his Deputy, Dr. Obafemi Hamzat, to succeed him.
Sanwo-Olu and leader of GAC, Prince Tajudeen Olusi, announced the adoption on Tuesday, after a closed door strategic meeting, held at Lagos House, Marina.
Meanwhile, the duo also announced that the 34 member -GAC has also agreed to purchase the Governorship Nomination Form, costing N50 milion for Hamzat as a sign of full support for his bid.
The council however, clarified that despite the consensus the party will still conduct primaries for all positions on line with the party’s guidelines inorder to provide a level playing field for all aspirants.
23 out of the 34 GAC members were in attendance, which include: Senator Tokunbo Abiru, Ganiyu Olawale Solomon, GOS, Senator Musiliu Obanikoro, Cardinal James Odunmbaku, among others.
Recall that the Governor, and his cabinet members who had earlier on Monday, received Hamzat and members of GAC in consultation visit, openly threw weight behind the Deputy Governor’s aspiration to run for governor.
The consultation meeting came immediately after the State’s Executive Council meeting attended the State House in Marina, where members of the cabinet and APC leaders in Lagos Central joined the Governor to receive Hamzat’s entourage.
The Governor and his Deputy shared an emotional moment, reflecting on their political journey over the past seven years and how their paths had crossed early during their public service experience under the tutelage of President Bola Tinubu.
Sanwo-Olu recalled that he and Dr. Hamzat used to sit next to each other in ex-Governor Babatunde Fashola’s cabinet, recollecting that no cabinet memo would scale through without their input and two others sitting in their row.
The Governor said: “Mr. Deputy Governor has created a personal relationship with me since way back before we’re joined together on a ticket. His family and my family have been close; our relationship was built on mutual respect, trust and dignity.”
Sanwo-Olu said when he picked his governorship eight years ago, he never severed his relationship with Dr. Hamzat, who picked his own governorship form two days earlier.
The Governor recalled how both of them forged a merger and ran on a joint ticket. After their 2019 electoral victory, Sanwo-Olu famously said Lagosians were getting price of two for one, referring to his Deputy as a potential Governor.
He continued: “A lot of Governors always look for weak Deputies, but that was not for me. From Day One in my governorship journey, I wanted the best partner to join the journey to build Greater Lagos. There was no meeting I could have attended that Mr. Deputy Governor is not fit and proper to attend.
“He possesses the skills, temperament and temerity to attend. Some of my Governor colleagues privately confided in me, saying ‘your Deputy is highly intelligent’ after noticing the intellectual skills Dr. Hamzat brought to discussions at NGF level.
“For this, we will continue to be indebted to our leader and father, Mr. President, the man who God continues to use to shape the political trajectory and destiny of Lagos.
“People said we have turned Lagos to irreversible construction site since Asiwaju’s era. If a competent man like Dr. Hamzat comes in, he will hit the ground running immediately.
“We are not going to hand over Lagos to charlatans who are coming to test their luck. Dr. Hamzat is tried and tested; he knows every nook and cranny of Lagos. Mr Deputy is the best man for the job.”
The experience and knowledge Hamzat garnered deputising Gov. Sanwo-Olu in the last seven years could not be quantified, thanking the Governor for allowing him to function in Deputy Governor position as a partner.
Responding, Dr. Hamzat said: “By some stroke of coincidence, it was (Governor) Sanwo-Olu who took me round the Ministries when I was first appointed as Commissioner in 2005 by our father and leader, President Tinubu, who was then the Governor of Lagos State.
“I had never met Governor Sanwo-Olu before my appointment into the Government. I never knew our relationship would grow to this extent.”
“Most people refer to Deputy Governors as spare tyres. Deputising Governor Sanwo-Olu in the last seven years, I have never felt or been treated as a spare tyre.
“The Governor did well in carrying me along as a partner on this journey to build Greater Lagos. The Governor passionately loves Lagos and always fights for the State at every level, to the extent that other Governors are jealous of Lagos.
“Lagos is very important to the well-being of our country. God forbid, if anything happens to Lagos, this country will collapse. We must not allow Lagos to be drawn back from the progressive path it has been taken.
“Mr. Governor has worked assiduously to ensure that Lagos continues to progress. Therefore, the progress needs to be sustained.
“One of the things that has fundamentally stabilized the growth of Lagos is the rancour-free succession process adopted by our progressive party.
“As Lagosians, we must be ready to fight any battle and endure any hardship to protect this State from people who don’t mean well. This is my pledge to our leaders and party faithful.”
News
Lagos 2027: Faleke Secures N50m APC Governorship Forms For Hamzat
The lawmaker representing Ikeja Federal Constituency, James Faleke, has picked up the All Progressives Congress (APC) Expression of Interest and Nomination forms for Dr. Kadri Obafemi Hamzat, the Deputy Governor of Lagos State for the 2027 governorship election.
The form was presented to Faleke by the party’s National Organising Secretary, Sulaiman Argungu, following the payment of N50 million for both the nomination and the expression-of-interest forms.
Faleke, founder of the Tinubu Support Group, had also picked up the nomination forms on behalf of President Bola Ahmed Tinubu, in what party officials described as part of the early mobilisation for the president’s re-election bid.
Details shortly…
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