World Bank Approves $200m Loan for Lagos State Reforms

           Ms. Marie-Francoise Marie-Nelly

 The World Bank group has approved $200m credit to Lagos State to support a range of reforms in regards to fiscal sustainability, budget planning, budget execution and the investment climate in the state.

 A statement issued by World bank on Wednesday said the facility would help sustain the state’s recent economic growth and poverty reduction, while delivering social services to the expanding population.

 The funds from the International Development Association segment of the World Bank Group supports the Third Lagos State Development Policy Operation and is the last of a series of two development policy operations, which aim to improve public finances and investments in a fiscally sustainable manner.

 The bank said that Lagos State has achieved significant economic growth, improved its infrastructure and services, significantly reduced crime, and brought millions of people out of poverty within the last 10 years.

The World Bank Task Team Leader for the project, Jariya Hoffman, said:

“The operation’s focus on furthering improvements in the transparency of the budget system, effectiveness of public expenditures, and the business climate will help sustain the pace of economic growth and thus the state’s positive momentum towards income equality and the delivery of public services,” he said.

 The World Bank Country Director for Nigeria, Marie-Francoise Marie-Nelly, said,

“This operation is designed to assist Lagos State in its quest to continue its recent success in spite of the challenges brought on by rapid economic and population growth.

“As an urban agglomeration that has reduced income inequality during double digit economic growth, Lagos is an example of inclusive growth in Nigeria. If the Lagos experience is sustained, there is strong potential for this type of inclusive growth to spread to other parts of Nigeria.”

 According to the bank, the operation will improve the state government’s fiscal sustainability by anchoring the budget on a framework that accounts for key fiscal risks and improves revenue collection. Support for adopting a new approach to budget planning and preparation will ensure adequate allocation of budgetary resources to social services such as education and health.

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Lagos State Government Shuts Down 24 Religious Buildings

 Lagos state government disclosed that in the last one year, it has shut down 24 religious buildings in the state following complaints of noise pollution they produce in areas where they are situated as well as their non adherence to the state guidelines on noise pollution.

 Lagos state Commissioner for Environment, Mr. Tunji Bello pictured left above disclosed this at the 2015 ministerial press briefing held in Alausa Secretariat, Ikeja yesterday April 29th.

“We received over 1, 000 petitions in the year under review. But we have been able to resolve some and some have relocated. We have shut about 24 religious outfits in the last one year because they failed to adhere to the state guidelines on noise pollution.”he said

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Lagos State University Refunds Over N200million School Fees To Students

 In a highly commendable move, the Lagos state government has refunded N209m to students of the Lagos state University following the reversal of school fees by Lagos State University, LASU.

 At a ceremony held at the Main auditorium of the Ojo campus of the school yesterday February 26th, the Special Adviser to the Governor on Education, Fatai Olukoga who represented Gov. Fashola, said this was the first phase in the refund exercise. He said the second phase of refund which is about N89 million will take place soon.

 12 students were presented with cheques ranging from N150,000 to N200,000 while the remaining money will be paid to the accounts provided by the other students.

 The management of the school and the students had witnessed many months of protest following a hike in school fees until Governor Fashola intervened in September 2014 and ordered that the school fees be reversed.

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