Gov Sanwo-Olu claims Lagos needs $15bn in five years for infrastructure
“It is such strategic partnerships that account for Lagos being by far the leading recipient of local and foreign direct investments in Nigeria.
“It is estimated that, in the last few years, about 80 percent of the investments into Nigeria, has come into Lagos.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the state will require about $15 billion over the next five years for infrastructure due to its rising population and limited geographical space.
“We believe that given the rising population and limited geography space that we have, Lagos will indeed require about $15 billion over the next five years on infrastructure alone. $15 billion is about five times the budget that we currently have. Lagos’ budget is about $3 billion today,” the statement quoted Sanwo-Olu as saying.
The Governor made this known while speaking at the third Lagos Investors’ Roundtable and launching of Deal Book organised by the Office of the Sustainable Development Goals and Investment on Thursday.
“These investments remain vital to our economic growth and wellbeing, supporting tens of thousands of jobs and livelihoods across the city.