Sunday , 9 February 2014
Headlines
- Official Speech of Governor Babatunde Fashola at the launch of Lagos H.O.M.S
- 3INVEST to launch a Mortgage Clinic at PBF in partnership with 2014 Social Media Week
- Lagos State Govt Rolls out Home Ownership Mortgage Scheme
- ECOWAS Leaders Approve $50m for Trans-West African Highway
- CBN bars NMRC from Real Estate Construction Financing
- Real Estate: 3 Things to Note Before you Sign a JV Agreement and 3 Sucessful Real Estate JVs
- 2014 Editor’s Pick: 7 Events That Can Change Your Real Estate Business
Private investors to fund N220b Fourth Mainland Bridge
Private investors will finance the construction of a N220 billion Fourth Mainland Bridge in Lagos; the state’s Commissioner for Economic Planning and Budget, Ben Akabueze, has said.
Speaking at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI), Mr Akabueze said the federal or states government would not be financing the bridge as private sector investors have already made plans to invest N220 billion in the construction of it.
On the state’s budget and performance, the commissioner said Lagos State requires a larger budget than it currently operates.
“Lagos State has consistently recorded good budgetary performance, more than any other state government in Nigeria,” he said. “We have tried to make the people to own the budget, and make it work for them because effective budgetary systems and implementation have contributed significantly to socio-economic development in Lagos.”
According to him, investment in infrastructure simultaneously tackles a number of challenges such as job creation, poverty reduction, lower cost of operations for manufacturing and commercial enterprises.
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