• Says Lagos needs $30bn for 30 capital projects in 5 years
By Moshood Adebayo
Lagos State Governor, Akinwunmi Ambode, has said plans are afoot to remove yellow buses, popularly known as Danfo, from the roads.
The buses will be replaced with more efficient, well-structured and world class mass transportation system, the governor said.
Ambode, who spoke at the 14th annual lecture of the Centre for Values in Leadership (CVL) at MUSON Centre, Onikan, Lagos, also said his administration would soon roll out a comprehensive environmental sanitation policy that would make the city clean without much burden on the people in terms of taxes.
The governor admitted that the present connectivity mode in Lagos was not acceptable and befitting for a mega city and added that a well-structured transportation mode would soon be put in place to address the challenge.
His words: “When I wake up in the morning and see all these yellow buses and see Okada and all kinds of tricycles and then, we claim we are a mega city, that is not true. We must first acknowledge that that is a faulty connectivity that we are running.
“Having accepted that, we have to look for the solution and that is why we want to banish yellow buses this year. We must address the issue of connectivity that makes people to move around with ease and that is where we are going. For instance, people going from Ikorodu to CMS have started leaving their cars at home because the buses are convenient and so why can’t we do that for other places? Yes, we don’t have the money to do that but, we can go to the capital market and then, improve on the technology of collection of fares and that will encourage investors and then, the city will change.”
On his part, Director of Centre for African Economies, Oxford University, Prof. Paul Collier, said Nigeria’s oil has been a curse, which messed up the economy, and so, there is need to start proper planning for development.
He said judging by the population projection of Nigeria by 2050, now is the time for the country to start building its cities to conform with modern trend.
As a way out, Collier suggested alliance between the business community and political actors, saying to build a city that works, attention must be focused on energy and connectivity.
Meanwhile, Ambode said yesterday the state will need $30 billion to adequately deliver 30 most impactful infrastructural projects in the state over the next five years.
Ambode, who spoke shortly before inaugurating a 12-member Economic Advisory Committee at the Lagos House, Ikeja, said the projected figure represents about $6 billion per annum, whereas the provision for capital projects in the 2017 budget is pegged at N500 billion (about $1.6 billion).
Alluding to the fact that the projection clearly shows that government alone cannot address the infrastructure deficit, he said the inauguration of the Economic Advisory Committee was therefore a step in the right direction.
“If Lagos was a country and we are the fifth largest economy in Africa, then, we have to start thinking about the number five. In that regard, you must not think taxes of Lagos citizens or IGR, you must create some kind of platform that would allow some other people who are outside to tell us how to run a country in a state…
“Our 2017 budget has earmarked about N500 million (about $1.6 billion). Whereas, our recent infrastructure needs analysis shows that over $30 billion would be required to achieve the 30 most impactful projects for the state over the next five years (an average of $6 billion per annum).
“It is evident that government cannot address this from current resources. A key task of this committee is therefore to provide specific advice on the overall finance strategy to bridge the massive infrastructure gap…”
I am therefore glad and privileged that nine competent and well respected Lagosians have accepted our request to serve in the committee,” he said
Renowned economist and founder of Agusto and Co, Mr. Olabode Agusto was inaugurated as the chairman, while Commissioners for Finance, Mr. Akinyemi Ashade; Energy/Mineral Resources, Mr. Olawale Oluwo and Commerce, Industry and Cooperatives, Mr. Rotimi Ogunleye are members.
Other members include former Managing Director, Skye Bank, Mr. Kehinde Durosinmi-Etti; Former Country Senior Partner, PwC, Mr. Kenneth Igbokwe; Founder/CEO Bestman Games Ltd, Mrs. Nimi Akinkugbe; Managing Partner, Dalmeida, Ogunlana and Co, Mrs. Adenike Ogunlana; Managing Director, Vetiva Capital, Dr. Laolu Mudashiru; former Minister of Science and Technology, Mrs. Omobola Johnson; Deputy Managing Director, Wema Bank Plc, Mr. Moruf Oseni and Mrs Yetunde Akinloye who doubles as secretary of the committee.