The Lagos State Government has announced the launch of a 30-year development plan for Nigeria’s commercial capital, to be implemented between 2022 and 2052.
This is exposed through the state governor, Babajide Sanwo-Olu on Wednesday at the Ehingbeti Lagos Economic Summit in Victoria Island.
The governor noted that the plan will be instrumental in creating the model mega city of Lagos Africa; he also announced the launch of the Lagos State Wealth Fund (LSWF) bill.
The governor said:
Sanwo-Olu noted that the Lagos State Wealth Fund (LSWF) bill and the Lagos State Civil Bill, will be sent to the Lagos State House of Assembly to be passed into law.
On the 30-year development plan of the state, he added that Lagos will continue to pursue inclusive and equitable policies throughout the development plan, saying that the plan is necessary to achieve ot the objectives to be a model mega city in Africa, and also placement. Lagos as a global, economic and financial hub is safe, secure, functional and productive.
He also noted that the Wealth Fund bills are critical to the future development of Lagos, saying that the bills signal the initiation of sub-sovereign green bonds in the state that will create sustainable wealth for the government and the people of the state. Lagos.
He said, “The fund allows the state to create a wealth reserve that can be instrumental in delivering infrastructure.
“The fund will buffer Lagos’ income from external shocks and make the state a technology and investment hub.”
He noted that the Lagos wealth fund has become the first sub-national sovereign wealth fund in Africa and joins Singapore and Canada with similar wealth funds and urged the state assembly for the speedy passage of the law because it is important for 30 years of development in the state. plan.
In case you missed it
- Nairametrics recently reported that the Lagos State Government has announced its readiness to commence the construction of a new airport in the Lekki axis of the state after the Governor Babajide Sanwo-Olu led government obtained approval from the federal government for the construction of the new- Lagos airport.
- He said that the project, which is expected to start in 2023, will be built on 3,500 hectares of land, as the master plan and aeronautical designs are already available.