Lagos State Government, yesterday, said that the Lagos International Financial Centre (LIFC) would require N10 trillion to drive the needed investment to bridge the infrastructure gap.
The state’s Commissioner for Finance, Abayomi Oluyomi, stated this when the partners on the LIFC projects, including EnterpriseNGR, visited the Ministry of Finance.
Oluyomi noted that with a N10 trillion infrastructure deficit, the state government needs external revenue and funding. He added that though 70 per cent of the state’s revenue comes from Internally Generated Revenue (IGR), the vision the state government has depends hugely on infrastructure that are not adequately in place, yet the government does not have the capital to finance the infrastructure.
He further said that with LIFC, the state government would provide the catalyst for the infrastructure project to drive the state’s vision.
Earlier,…
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