General
Lagos Budgets N1.2trn for 2020, Targets N1.1trn IGR
By Modupe Gbadeyanka
Lagos State Governor, Mr Babajide Sanwo-Olu, on Friday said his administration plans to spend the sum of N1.168 trillion for the 2020 fiscal year, with about N1.071 trillion of the estimates expected to be raised from the state’s Internally Generated Revenue (IGR).
Presenting the budget to the Lagos State House of Assembly today, the Governor said 62 percent of the total amount, representing N723.75 billion, would be used for capital expenditure, while 38 percent, representing N444.81 billion, would go for recurrent expenditure.
He said the 2020 budget, Awakening to a Greater Lagos, was designed to accelerate the growth of state’s economy by proposing aggressive investments in critical areas of priorities, physical infrastructure, environment, human capital and security.
According to him, the budget deficit, put at N97.53billion, would be financed through internal and external loans. He further said about N167.81 billion of the recurrent expenditure will go for personnel costs and other staff-related expenses, representing 22.02 percent of the total revenue. This, the Governor noted, is within the acceptable wage policy, which benchmarks 25 percent staff overheads in the budget.
Mr Sanwo-Olu said the proposed budget would help the state achieve a sustainable social investment and scale up private sector-led economic growth through investment in infrastructure and security. He said it would also improve civic engagement in governance and foster partnership with the Federal Government and the civil society.
Explaining why his administration will be earmarking huge funds to the environment and public infrastructure, the Governor said Lagos had been facing combined threats from population explosion and climate change.
“Lagos faces an existential threat, arising from the interplay of demographic and climate change. Lagos will continue to be a magnet for multitudes within and outside Nigeria, in search of jobs and economic prosperity. These levels of migration put phenomenal strain on the physical and fiscal resources of the state.
“This budget seeks to aggressively invest in and develop our education, health and other physical infrastructure sectors. As at September 2019, our capital expenditure on works and infrastructure was just N31 billion, which is less compared with N78 billion proposed in the current year. It is our intention to spend N115 billion on physical infrastructure in 2020.
“In response to the perennial challenges of flooding in the metropolis, we have to triple the capital budget provision to tackle these observed problems from N3 billion in 2019 to N9 billion in 2020. We are embarking on massive desilting of major drain systems across the state next year,” he informed the lawmakers, who listened to him with rapt attention.
Mr Sanwo-Olu told the parliament that his government plans to spend N48 billion on education and technology, representing 60 percent rise in capital allocation to the Ministry of Education.
On healthcare, he said the state plans to spend N33 billion on programmes, which include proposed revamping and re-equipping over 350 Primary Health Centres.
Mr Sanwo-Olu described the proposed budget as “unique”, noting that its details reflected the wishes of residents, following series of consultations and feedback from stakeholders across senatorial districts.
The Governor assured residents of transparency and accountability in the implementation of the budget, pointing out that there would be strict performance mechanism to drive compliance and measure the progress of the budget at the execution stage.
“The 2020 budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years. This is in line with our commitment to transparency and accountability in the management of public finances.
“We have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1 billion this year, to provide for industrial hubs, parks, graduate internship programs and virtual markets for artisans. This is in support for Micro, Small and Medium Enterprises (MSMEs) which are the engines for both economic and employment growth,” he said.
Reviewing the performance of 2019 Appropriation Bill, which he signed into law in June shortly after he assumed office, Mr Sanwo-Olu said his government embarked on strict implementation of the budget and achieved 69 percent efficiency at the end of September.
He said his administration completed critical projects that directly impacted residents, including two Maternal and Child Care Centers (MCCs) in Eti-Osa and Alimosho areas, and 492-flat Lateef Jakande Housing Estate in Igando.
The Governor said several other capital projects captured in the 2019 budget, including 31 arterial roads in Ojokoro/Ijaiye area, a High Court and Magistrates Court complex in Eti-Osa Local Government Area, and a Police Command Complex in Ojo Local Government Area, will be completed.
Mr Sanwo-Olu observed that the approved re-ordering of the 2019 budget by the legislature gave the government an opportunity to raise N250 billion in addressing critical infrastructure needs, including rehabilitation of public schools, ongoing construction of Lagos–Badagry Expressway, Agege–Pen Cinema Overhead Bridge, Agric–Isawo Road, Bola Ahmed Tinubu–Igbogbo Road, and an ongoing road rehabilitation by Lagos Public Works.
He added that the loan will also enable his administration to start the desilting of drain systems, provision of security and emergency hardware, light rail infrastructure, and construction of a General Hospital in Ojo, which is to be fitted with a Spinal and Neurology Unit.
Mr Sanwo-Olu reiterated that his administration’s development agenda, known as Project T.H.E.M.E.S, was designed to address major challenges facing the State and create a city that would work for the citizens. He said his administration was ready to transform Lagos by rethinking projects that will improve the wellbeing of the residents.
In his remarks, Speaker of the Assembly, Mr Mudashiru Obasa, praised Mr Sanwo-Olu for accepting the responsibility to tackle challenges faced the state.
He said the Governor’s activities since his assumption of office had re-assured Lagosians about his zeal to fix problems he inherited from the last administration.
“Mr Governor, your actions so far have shown the zeal, desire and passion in you to get things done, to fix what has been left undone and to move the state forward. Hence, we believe that the content of the budget will serve this purpose in making life worthy of living for our people in Lagos,” the Speaker said.
Mr Obasa promised the Assembly would ensure speedy passage of the budget and make it a “New Year” gift for people.
The Assembly chamber was filled to capacity, as a large crowd of Lagos residents, comprising leaders and members of the ruling All Progressives Congress (APC), State Executive Council members, traditional rulers, workers, traders, artisans, students and stakeholders in the private sector, witnessed the budget presentation.
By Modupe Gbadeyanka
Nollywood star-turned politician, Mr Desmond Elliott, has said he did not withdraw from the primary election of the All Progressives Congress (APC) to elect a candidate for the Lagos State House of Assembly Surulere Constituency 1.
Earlier on Wednesday, the actor released a video where he said he was not participating in the exercise after he alleged intimidation of his supporters.
But moments later, after videos started emerging that his opponent, Ms Barakat Odunuga-Bakare, had clinched the party’s ticket for the proper election in 2027, Mr Elliot said he never stepped down.
In a statement shared on his social media platform, X, formerly Twitter, the movie star described reports of his purported withdrawal from the race as “misleading,” saying they were “deliberate misrepresentations” of his stance in the video.
“We wish to categorically state that Desmond Elliott did not withdraw or step down from the race,” a part of the statement signed by the Concerned Supporters and Stakeholders in Surulere Constituency 1 noted.
“For the avoidance of doubt, what Desmond Elliott communicated in the video posted on his official X (formerly Twitter) handle, @DesmondOElliot, was his deep concern over the deliberate exclusion and intimidation of his supporters, many of whom were denied access to the designated voting venues, particularly in Ward F2 and Ward F3.
“These unfortunate developments created an atmosphere of tension and raised legitimate fears of a possible breakdown of law and order. In light of these troubling circumstances, Desmond Elliott, acting responsibly and in the interest of peace, urged his agents and supporters to withdraw from the immediate voting environment to prevent escalation and to avoid any form of violence or chaos.
“His decision was one of statesmanship and restraint—not a concession, withdrawal, or surrender of his candidacy.
“It is therefore misleading and inaccurate for anyone to interpret or portray his remarks as stepping down from the race. Desmond Elliott remains committed to democratic principles, the rule of law, and the mandate freely given to him by the overwhelming majority of his supporters across Surulere Constituency 1.
“We call on party members, stakeholders, and the general public to disregard false narratives and remain focused on the need for transparency, fairness, and justice in the electoral process.
“At this critical moment, it is imperative that the integrity of the primary election process be upheld and that every legitimate supporter and delegate is allowed to participate freely, without intimidation or obstruction,” the disclosure stated.
By Adedapo Adesanya
The National Pension Commission (PenCom) and the Nigeria Labour Congress (NLC) Lagos Council will begin enforcement against pension defaulters under the Contributory Pension Scheme from June 1.
The NLC Lagos Council Chairperson, Mrs Funmi Sesi, disclosed this after an interactive session organised by PenCom in Lagos on Tuesday.
The session focused on the workings of the Contributory Pension Scheme (CPS) and sensitised labour leaders on pension compliance obligations under the Pension Reform Act.
Mrs Sesi condemned the continued failure of some government agencies and private employers to remit deducted pension contributions to Pension Fund Administrators.
“It is unacceptable that in spite of monthly deductions from workers’ salaries, some employers deliberately fail to remit the funds,” she said.
She warned that the practice endangered workers’ future and undermined their economic security after retirement.
“The non-remittance of pension contributions constitutes a gross violation of labour laws and abuse of workers’ trust,” Sesi stated.
She described a pension as a fundamental workers’ right, stressing that employees deserved to retire with dignity after years of productive service.
According to her, NLC and PenCom had received growing complaints from affected workers across public and private establishments in Lagos.
Mrs Sesi said the complaints prompted immediate monitoring and enforcement efforts in collaboration with PenCom and other relevant stakeholders.
She warned that the Congress would mobilise affiliate unions against employers refusing to comply with pension remittance obligations.
“If we need to purchase locks and keys just to ensure compliance and enforcement, we will apply that.
“We are the voice for the voiceless, the power for workers and the last hope of workers and pensioners,” Sesi said.
She further warned that defaulting employers risked public exposure and possible legal action for violating pension regulations.
Mrs Sesi urged employers to comply fully with pension laws to promote industrial harmony, social justice and national development.
On his part, PenCom Director-General, Ms Omolola Oloworaran, said the Contributory Pension Scheme guaranteed financial security for workers after retirement.
Ms Oloworaran, represented by Mr Ahmed Lawan, Head of Compliance and Enforcement Department, said retirees previously suffered severe hardship and delayed pension payments.
She noted that the CPS had improved pension administration but accused some employers of frustrating the scheme through non-remittance of deductions.
Ms Oloworaran warned ministries, departments, agencies, parastatals and private firms against denying workers their pension rights.
She stressed that retirement should not become painful after years of dedicated public and private service.
“Deducting workers’ pension contributions without remitting them is a criminal offence under the pension law,” she warned.
The PenCom chief encouraged affected workers to report defaulting organisations to the NLC for investigation and enforcement.
She assured workers that the identities of whistleblowers would remain protected where necessary during enforcement operations.
The official announced that PenCom and NLC would begin joint monitoring and enforcement exercises across Lagos from June.
“We will go after organisations involved in non-remittance of workers’ pension deductions in Lagos State,” she said.
She urged workers to cooperate by providing useful information to strengthen compliance efforts and protect employees’ retirement savings.
The NLC inaugurated a committee of task force commanders from affiliate unions to support enforcement operations statewide.
By Aduragbemi Omiyale
After its launch in the United States in 2023, PayPal USD (PYUSD) is now available in 70 markets worldwide, including in Africa, Asia-Pacific, Europe, Latin America, the Middle East, and North America. providing stable purchasing power and enabling lower-cost global commerce for users.
In a statement on Wednesday, PayPal said this dollar-backed stablecoin enables users to send funds globally, with faster settlement and lower cost than traditional payment methods.
Users in newly supported markets can buy, hold, send, and receive PYUSD directly from their PayPal account. Additionally, eligible users can earn rewards on their PYUSD holdings, transfer funds to friends and family, whether on PayPal or to third-party digital wallets, and convert PYUSD to local currency when withdrawing funds for everyday spending.
Businesses that accept PYUSD can use proceeds in minutes rather than days or weeks, improving liquidity and reducing reliance on traditional settlement cycles. Faster access to funds can help businesses manage working capital, support cross-border operations, and participate in global commerce.
As global commerce becomes increasingly digital, individuals and businesses are looking for faster and more seamless ways to transact across borders. Stablecoins like PYUSD help power an inclusive, fast, lower-cost, global commerce system.
“Consumers and businesses around the world are looking for faster, more seamless ways to transact globally, and the current system still charges too much, takes too long, and settles on timelines that were designed for a different era,” the Senior Vice President and General Manager of Crypto for PayPal, May Zabaneh, stated.
“We are working to change that. Enabling PYUSD in users’ accounts across 70 markets gives people faster access to their funds, lower-cost ways to send money across borders, and a more direct path to participating in the global economy, and that is what drives commerce forward for everyone,” Zabaneh added.
Also commenting, the Senior Vice President and General Manager of the Middle East and Africa at PayPal, Otto Williams, said, “Bringing PYUSD to Africa is about delivering tangible value to the people and businesses driving growth in these dynamic markets.
“Consumers gain a flexible, stable way to move funds faster, while businesses can streamline cross-border payments, improve settlement times, and unlock new growth opportunities. By increasing access to a regulated, USD-backed digital currency, we’re breaking down barriers and helping reduce friction in global commerce across the region.”
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