Economy Metro

Sanwo-Olu requests funding from Natural Resources Dev Fund for tourism, agric and solid minerals development

Image Credits: LASG.

In picture above: Members of the Fiscal Efficiency and Budget Committee of the Revenue Mobilisation and Fiscal Commission (RMAFC), who were on a verification exercise of the projects executed by the Lagos State Government.

Lagos State Governor, Mr. Babajide Sanwo-Olu, has requested that the State Government should be allowed to draw from the Natural Resources Development Fund for the growth of Tourism, Agriculture and Solid Minerals Development in the State.

Governor Jide Sanwo-Olu made the request while receiving members of the Fiscal Efficiency and Budget Committee of the Revenue Mobilisation and Fiscal Commission (RMAFC), who were on a verification exercise of the projects executed by the Lagos State Government.

Lagos State Governor, Babajide Sanwo-Olu

The Governor explained to the Committee, led by its Chairman, Adamu Shettima Dibal, that the uncontrollable population growth of the State was due to its status as the economic nerve centre of the entire Sub-Saharan Africa, which has put pressure on its infrastructure.

He noted that the State Government requires assistance for the funding of its strategic developmental projects that will create jobs and improve the standard of living of residents.

The Chairman of the Committee, Adamu Dibal, stated that the team was in Lagos to verify the claims submitted to the RMAFC by Lagos State Government on priority projects listed for execution, if the State gets the Federal Government’s financial support.

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While conducting the team round the projects listed for execution by the State Government, the Commissioner for Finance, Dr. Rabiu Olowo, stated that most of the projects have huge socio-economic impacts in terms of employment generation, capacity building and entrepreneurship.

Some of the projects sites visited by the Committee include Imota Rice Mill and Farmland, Limestone/Clay/Ceramic Production site; Erikorodo Poultry Estate in Ikorodu; Badagry Lagoon Front; Ajara Farm Settlement; Rice Fields in Badagry; Igbonla Hot Water Well; Eko Cassava Factory, Araga; Ejirin proposed Greenhouse Estate; Itoikin Rice Field and Glover Memorial Hall among others.

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