Lagos to spend N550.6bn on infrastructure in 2024

Lagos to spend N550.6bn on infrastructure in 2024

Lagos to spend N550.6bn on infrastructure in 2024

The Lagos State government will spend N550.6 billion to develop and maintain infrastructure across the state this year.

The state’s Commissioner of Economic Planning and Budget, Mr. Ope George, disclosed this during the state’s ”2024 Budget Analysis” held on Wednesday in Ikeja.

He said the N550.689 billion represented 24.2 percent of the N1.315 trillion set aside for capital expenditure in the 2024 budget.

George said these projects to be captured in the budget include the expansion of the rail network, road construction, completion of the Blue/Red Line, and other metro projects within the state.

Others are the development of affordable housing schemes and urban renewal projects to address the housing deficit in the state.

READ ALSO: Lagos needs N7tr to boost infrastructure, other amenities – Sanwo-Olu

George said: “Some of the social housing projects include: the completion of 444 units of building projects at Sangotedo Phase ll, completion of 420 units of building Projects at Ajara, Badagry Phase ll, and construction of 136 units of building projects at Ibeshe ll, among others.

”There will be a focus on some ‘special projects,’ continuous progress on major infrastructure projects like the Lekki-Epe International Airport, the Omu Creek, Blue, and Red line. It should be noted that most of these projects will be prioritized.

“The 2024 budget intended to complete the ongoing infrastructure like the Massey Hospital in Lagos Island, Omu Creek, Opebi-Mende Link Bridge, Stadia; SCRPS; Lekki-Epe and Lagos Badagry Expressway, among others.”

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