Lagos state to spend US$3 billion on infrastructure after mass protests
NIGERIA's Lagos state plans to increase infrastructure spending this year to repair damage from commercial hub protests last October, reports Bloomberg News
20 January 2021 - 19:00
Capital projects are getting 60 per cent of its proposed budget of US$3 billion, targeting infrastructure renewal and development.
'While we were recovering from the pandemic, the EndSARS protests and the aftermath of its hijack took us back economically and socially,' said budget commissioner Sam Egube.
Nigeria is Africa's biggest crude producer, but the Covid crisis caused the country's oil business to slip, most of which is located in the commercial hub.
Youth protests against police brutality turned violent in October, causing large scale looting and destruction of public and private assets.
The state will meet expenditure plans through projected revenues of $2 billion and deficit financing of $500 million.
Part of the capital spending will be for Lagos smart city, which will see the government deliver broadband fiber network and intelligent cameras across the state to enhance security.
The government also increased the health sector nine per cent to help manage the ongoing Covid
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