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Lagos begins work on new economic growth phase


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Lagos State Government says work has commenced on a new and sustainable growth phase.

The state noted that the private sector will play a major role in its implementation.

On Thursday, the government announced the Lagos Economic Summit tagged, ‘Ehingbeti 2020’.

Sam Egube, Commissioner for Economic Planning and Budget, said since year 2000, Ehingbeti had made useful inputs into Lagos State Development Plans (LSDP).

The official announced that the November summit is open to anyone who has an idea that can make Lagos greater.

Noting that realities have significantly changed, Egube pointed out that the government now caters for the infrastructural needs of 22 million population.

Citing the COVID-19 pandemic, the commissioner stressed that Lagos was keen on deliberations on strategies and opportunities.

He said the state looked forward to perspectives on how to manage the peculiar socio-economic landscape of Nigeria’s commercial hub.

Egube disclosed that 193 resolutions out of 206 reached during Ehingbeti have been implemented.

On Tuesday, the National Bureau of Statistics (NBS) said Lagos recorded the highest Internally Generated Revenue (IGR) in the first half of 2020.

Its H1 report puts the IGR figure of 36 states and Federal Capital Territory (FCT) at N612.87 billion.

Lagos racked up N204.51billion, meaning the state generated one-third of the total revenue.

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