Lagos spends N115bn on capital projects in six months

Lagos State Government has spent N115.624 billion on various project in the state during the first six month of 2016.
Lagos State Governor, Mr. Akinwunmi Ambode on Tuesday said the state has spent a total of N115.624 billion on capital projects during the half year 2016 leading to the Capital/Recurrent ratio of 50:50 with the plan to improve this ratio to 58:42 provided for in 2016 Appropriation Law in the remaining half of the year.
Governor Ambode, who spoke at the 4th Quarterly Town Hall Meeting held at the Muslim Community Praying Ground in Badagry, said revenue recorded 73 per cent performance for the half year 2016 despite the challenging economic environment.
Ambode said his administration has concluded plans to massively revamp the health sector, just as he among other things, revealed that the sum of N10 billion has been earmarked to upgrade the health facilities across the state.
He said modern equipment would be procured to facilitate treatment, while government would also invest massively in capacity building of the medical staff, all in a bid to provide world class health care for the citizenry.
“We have commenced a comprehensive action to rehabilitate and upgrade the facilities in all our hospitals. Modern equipment will be procured to facilitate treatment and we will invest in capacity building of our medical staff. We intend to spend over N10 billion on our hospitals across the State before December this year.
We will recruit and train medical professionals in areas of rare specialization and special needs,” Governor Ambode said.
Speaking on the half year 2016 budget, Governor Ambode said the overall performance of the budget stood at 70 percent, which according to him, was an improvement over the corresponding period in 2015 when the performance stood at 63 per cent.
He seized the occasion to intimate on his future plans for the state, revealing that his administration was working round the clock to build the economy of the State beyond the dependence on oil, adding, “the future of Lagos is about tourism and services.”
“On our part, we will continue to ensure judicious utilization of the resources of the state by executing projects that will outlive us and affirm our position as a Centre of Excellence,” Governor Ambode said.