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President Buhari
President Muhammadu Buhari on Tuesday pledged that Federal government will support more massive investments in Lagos State to boost its economic potential as one of the world’s fastest growing megacities.
The President spoke in a video goodwill message to the Ehingbeti Lagos Economic Summit, themed “For a Greater Lagos: Setting the Tone for the Next Decade.”
President Buhari 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.
“One of the significant ways in which our support has manifested to Lagos State is in the special federal funding that we approved in 2020 in acknowledgement of the State being an epicentre of the Coronavirus pandemic.”
“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 Presidential Infrastructure Development Fund (PIDF) is investing in the reconstruction of the Lagos-Ibadan Expressway, while Apapa-Oshodi-Oworonshoki Expressway is a flagship project of our Road Infrastructure Tax Credit Scheme, also known as Executive Order 7 of 2019.”
“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.”
“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 the investment plan to revamp the National Theatre, the President told the 8th Economic Summit that his 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.
President Buhari expressed confidence that enterprising young people in Lagos will be the biggest beneficiaries of the National Theatre, when fully upgraded into a world-class hub.
