Wednesday 18th October, 2017
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Ambode urges FG, states to scale up capital expenditure

Ambode urges FG, states to scale up capital expenditure

As Nigeria gradually makes its way out of economic recession, Governor Akinwunmi Am­bode of Lagos State has called on the federal and other state governments to scale up their capital expenditure.
The governor who was speaking when he received members of the House of Representatives committee on Economic Recession who paid him a courtesy visit said his administration intensified its capital expenditure to re­flate the state’s economy.
He said 60 percent of the state budget last year was ploughed towards infrastruc­tural projects in all parts of the state to tackle recession.
He said such projects con­tributed significantly to keep the state’s economy afloat with low income earners engaged, adding that it was important for government at all levels to keep spending on infrastruc­ture.
“Every contract or construc­tion that you see in the nooks and crannies of Lagos, there is a bricklayer that is employed; there is a driver that is driv­ing lorry load of sand; there is that food seller that is given the workers some food and a minimum of N5,000 in every household has a multiplier ef­fect on the economy,” he said.
The Governor also said that his administration invested massively on security and re­viving a 24/7 economy for the state through the Light Up La­gos project, saying that such was important for the econo­my to thrive.

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