By Audrey Lotchukwu
WED 17 FEB, 2021-theGBJournal- President Muhammadu Buhari Tuesday assured the Lagos State Government that the Federal Government will support more massive investments into the State to boost its economic potential as one of the world’s fastest growing megacities.
He made the pledge in a video goodwill message to the 8th Ehingbeti Lagos Economic Summit, themed ‘’For Greater Lagos: Setting the Tone for next Decade.’’
The President said his administration recognises Lagos as central to the economic fortunes of Nigeria and has in the last few years demonstrated commitment to supporting it unleash its full socio-economic potential.
He said one significant ways in which the Federal Government support has manifested in Lagos State is in the special funding approved in 2020 in acknowledgment of the State being an epicentre of the Coronavirus pandemic.
According to the President, ‘’the challenges of Lagos must therefore be very clearly seen as part of the challenges of Nigeria, and the Federal Government will support Lagos to overcome its challenges and to thrive socially and economically.’’
The President noted that the Presidential Infrastructure Development Fund (PIDF) is investing in the reconstruction of the Lagos-Ibadan expressway, while the Apapa-Oshodi-Oworonshoki expressway is a flagship project of the Federal Government’s Road Infrastructure Tax Credit Scheme, also known as Executive Order 7 of 2017.
‘’It was also this administration which granted approval to the Lagos State Government to rebuild the International Airport road, a major road that links the busiest airport in Sub-Saharan Africa to the continent’s fifth largest economy (Lagos).
‘’The Federal Government is today completing the standard gauge railway line that will link Lagos to Ibadan in the first instance, and from there connect to Abuja and Kano, and bring ease and efficiency to what is Nigeria’s busiest transportation corridor.’’
On investment plan to revamp the National Theatre, the President noted that Federal Government had granted approval for the temporary transfer of the iconic federal asset on the Lagos landscape to the Bankers Committee which will invest in upgrading it and developing it into a world-class creative hub.
According President Buhari, ‘’the theme of this year’s Lagos Economic Summit invites us all to share our aspirations for a megacity that boldly occupies its place in the global standing of megacities. A Lagos that can keep up with its growing population in terms of housing, education, healthcare, security and jobs. A Lagos that is innovative and productive, and that ensures that its economic prosperity leaves no one behind.’’
The President urged ‘’all participants to go all out in the course of the next few days to think and contribute along these lines, and to come up with practical masterplan for achieving this Lagos of our dream.’’
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