Ambode reveals why Lagos is not affected by recession

The Governor of Lagos State, Akinwunmi Ambode, has attributed the state’s immunity to the current economic recession to the virile revenue base and fiscal discipline within the state.
The Governor made the remark on Monday at Ojokoro LCDA during the ongoing simultaneous commissioning of newly constructed roads, held in 10 councils of the state.
Ambode made the remark, yesterday, at Ojokoro LCDA
during the ongoing simultaneous commissioning of newly constructed roads, held in 10 councils of the state.
Ambode, who was represented by a member of the House of Representatives representing Kosofe Federal Constituency, Rotimi Agunsoye, said, “The reason Lagos State is not feeling the impact of recession so much, is simply because of its revenue base as well as the financial prudence.
“This has helped us not to feel the impact like other states.
The Governor also disclosed that the N19 billion funds for the construction of the 114 roads was sourced through taxes paid by residents.
“The newly constructed roads will have a positive impact on businesses by boosting economic activities and guarantee adequate security within the state,” Ambode stated.
The Nigerian Federal Government recently announced plans to inject N350 billion into the economy to cushion the effect of the recession being witnessed in the country.

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