The Lagos State Governor, Bababjide Sanwo-Olu, on Tuesday proposed a budget estimate of N1,155,022,413,005.82 for 2021, christened ‘budget of rekindled hope’.
The governor made the presentation at the Lagos State House of Assembly Chambers, Alausa Ikeja.
Sanwo-Olu said his administration negotiated and was able to save about N12 billion from the restructuring of the existing internal loans owed by the State Government.
According to the Governor, through deliberate programmes, the government was able to restructure some of the existing internal loans from 18 per cent to 12 per cent, while some of the loans were restructured from double digits to single digit of 6 per cent and 9 per cent.
“Through the restructuring, we were able to save about N12 billion,” the Governor said.
Lagos will construct a General Hospital in Amuwo-Odofin, a Psychiatric Hospital in Ketu, as well as Lagos State Infectious Disease Research Centre in Yaba, the governor said.
He announced his plan to repeal the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former Governors and their Deputies.
