The year 2021 Budget has been presented to the Lagos State House of Assembly by Governor Babajide Sanwo-olu.
The budget estimate of N 1,155,022,413,005.82 was christened ,”budget of rekindled hope” .
Governor Sanwo-olu said plans are on to revoke the Pension Payment Law 2007 , which provides for payment of pension and certain entitlements to ex-Governors and their Deputies.
He said, “Mr Speaker and honourable members of the House, in light of keeping the costs of governance low and to signal selflessness in public service, we will be sending a draft executive bill to the House imminently for the repeal of the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former governors and their deputies.”
According to the Governor, through interventional 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.
He added that a General Hospital will be constructed in Amuwo-Odofin, a Psychiatric Hospital in Ketu, as well as Lagos State Infectious Disease Research Centre will be constructed in Yaba ; noting that 760 health workers have been hired to boost the health sector.
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