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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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Boko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim

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A new video has emerged showing two men reportedly kidnapped by Boko Haram insurgents in Borno State, pleading for assistance to secure their release.

 

One of the captives, former Biu Local Government Area Chairman Hassan Biu Miringa, revealed that their abductors are demanding a $300,000 ransom.

 

Miringa said he and another individual were taken in December 2025 and have remained in the custody of the militants.

 

In the video shared by Zagazola Makama, Miringa introduced himself, saying: “I am Hassan Biu Miringa, former Chairman of Biu Local Government from 2020 to 2022. Four years after my tenure, we were kidnapped by the soldiers of Khilafa about two weeks ago. Alhamdulillah, we are still alive, but we urgently need help to save our lives.”

 

He added that negotiations with the kidnappers had been underway, with some preliminary agreements reportedly reached.

 

“We have engaged them on four separate occasions and reached an understanding. We appeal to our leaders, especially Borno State Deputy Governor Alhaji Usman Umar Kadafur, the National Assembly representative for Biu, Kwaya, and Shani Hon. Betera Aliyu, as well as our community leaders, to temper justice with mercy and assist us. We are their children and have been working together,” Miringa said.

 

He confirmed the ransom demand, explaining that each captive is expected to pay $150,000, totaling $300,000 for their freedom, and pleaded for urgent intervention to reunite with their families.

 

The video highlights ongoing concerns over kidnappings and insecurity in southern Borno State, which have persisted despite government efforts to curb insurgent activity in the region.

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How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.

 

Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.

 

The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.

 

Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.

 

In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.

 

Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.

 

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Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly

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The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.

 

The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.

 

This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.

 

According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.

 

“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.

 

The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.

 

Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.

 

The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.

 

“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.

 

The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”

 

It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.

 

JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.

 

 

 

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