Project loans check rural-urban migration in Lagos – Ambode

The Lagos State Government has said all the capital projects executed with loans has  helped to check rural-urban migration in the state.  The state  Governor, Akinwunmi Ambode  stated  this at the just-concluded 9th annual Bankers’ Committee retreat in Lagos. He said that   the current massive infrastructural renewal in every part of the state is a […]

The Lagos State Government has said all the capital projects executed with loans has  helped to check rural-urban migration in the state.

 The state  Governor, Akinwunmi Ambode  stated  this at the just-concluded 9th annual Bankers’ Committee retreat in Lagos.

He said that   the current massive infrastructural renewal in every part of the state is a strategy to create employment at the grass root and keep the youth from migrating to the urban centres.

He said, “Each construction site that you see in Lagos, I am trying to create employment at the lower level so that the artisans, the bricklayers, can go home with N5000.I don’t need to do something in Badagry , but I need to employ people there so that they stay in Badagry and they do not need to come to central Lagos.”

Addressing participants at the AGM, the Commissioner for Finance, Akinyemi Ashade, noted that the various bonds had been used to upscale infrastructural development in the state in the areas of roads and bridges construction, water, transportation, health and waterfront infrastructural development.

According to him, $50 billion was needed to address infrastructural deficits in the state, which he said, was part of the reasons the government floated bonds to bridge the gap, adding that over time, two bridges had been constructed with the proceeds from the bonds while major infrastructure were upgraded across the metropolis.