Lagos explains the increase in investment in human capital


By Ugo Aliogo

Lagos State Commissioner for Economic Planning and Budget, Mr. Sam Egube, explained the increase in the state government budget allocation for human capital development, which he estimated at 160 billion naira in 2020.

Egube, who revealed it yesterday in Lagos during the EMWA exhibition and conference on the theme: “Industrialization and innovation revitalizing the industrial sector to unleash Nigeria’s potential”, expressed the government’s willingness to the state to develop the capacities of young people, which it says constitutes 45 percent of the state’s population.

He also said there was a need to involve young people who had seen their active involvement in the tech space, adding that the state government had increased its budget allocation to improve the productivity of the population.

Egube further explained that as part of the administration’s commitment to make Lagos a hub for business in Africa, it has set up a 3,000 kilometer fiberglass infrastructure to bring high internet capacity. via submarine cables in homes and industries.

The commissioner said technology remains an effective way to accelerate development and improve behavior in Lagos.

According to him, “When Mr. Gouverneur came to power, one of the things he promised the people was improved transportation. It was clear to us that transport will not improve just by building roads, due to the rate of urban migration in Lagos.

“It was also clear to us that in order to improve the environment and the transport system, it was important that we invest heavily in public transport. So, the state government felt that it had to find a creative way to solve the problem, otherwise the move will be difficult.

“We have therefore decided to conduct multimodal transport which consists of promoting road, rail and river travel. Thanks to the innovation of Mr. Gouverneur and in collaboration with the finance team, we were able to finance the red line. The red line will transport people from Agbado to Oyingbo and then to Marina in its second phase.

“It could move 22.5 million people per month, reducing their travel time by 50%, from 2 hours to 45 minutes. The red line will have 10 viaducts (bridges), it will have 13 pedestrian bridges and eight bus stations.

“We believe that Apapa has far reached its capacity, and when the deepwater port is operational after the completion of phases one and two, it will conduct four times the capacity of the port of Apapa.”

In his remarks, Zenith Exhibitions CEO Joseph Oru noted that the COVID-19 pandemic has forced businesses and organizations to find new ways of doing old things.


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