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Lagos 2019 Budget Will Be Dedicated To Completion Of On-going Projects – Ambode

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Amid delay in the presentation of year 2019 budget to the state House of Assembly, Lagos State Governor, Mr. Akinwunmi Ambode has said the state’s budget is being carefully tailored towards the completion of ongoing infrastructural projects, creation of more jobs, as well as strengthening the security architecture of the state.

Speaking separately at the Christmas Eve Dance of Yoruba Tennis Club and Island Club, two foremost social clubs in the country, Ambode said while it was gratifying that a lot of provisions had been made for capital projects in the 2019 federal budget, the State Government would also concentrate on scaling up infrastructure, among other programmes to enhance growth and development.

The governor who alluded to the positive economic projections for Nigeria in 2019 by the International Monetary Fund (IMF), said Lagos, on a stand-alone basis in the year under reference, would achieve four percent growth in Gross Domestic Product (GDP).

He added that the social intervention initiatives of both the state and federal governments would also go a long way to facilitate serious reduction in unemployment rate.

“The economic outlook for 2019 is quite positive. A lot of provision has been made for capital projects in the 2019 Federal Budget, some of which will directly impact the economy of our State and will support our growth plans. On our part, we will concentrate on completing existing infrastructural projects, creating more jobs, supporting our businesses to thrive and strengthening our security infrastructure.

“According to IMF, the Nigeria GDP will grow from 1.9 per cent in 2018 to 2.8 per cent in 2019. Lagos on a stand-alone basis will achieve over 4 per cent growth in GDP and this could be more if the congestion at the port and the negative effect this has on the economy is addressed. We expect that the high rate of unemployment will reduce with various social intervention programmes of the state and federal governments geared towards financial inclusion and liquidity support to micro, small and medium enterprises,” he said.

Ambode said it was particularly fulfilling that the state had made tremendous progress in all sectors of the economy and had become more globally competitive and strategically positioned among the major City-States worldwide.

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