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 Adedapo Adesanya
The Lagos State Government has expressed its readiness to get a brand-new Building Code next year, to achieve the high-performance standards needed to make Lagos a sustainable and Smart City.
The government’s readiness was disclosed at the Lagos State Executive Council Retreat on the Domestication of the Lagos Building Code, organised by the Office of the Special Adviser on e-GIS and Urban Development, held at Ikeja GRA on Wednesday.
Speaking during the retreat, Lagos State Governor, Mr Babajide Sanwo-Olu emphasised the need for more collaboration among all the ministries and agencies in the built sector, to ensure the state development in line with global best practices.
He said the motive behind the Lagos Building Code is to have a building regulation that would make Lagos much more resilient.
“We (Lagos State Government) are the first to domesticate the National Building Code, which is the creation of the Federal Government. We are not doing anything outside the vision at the sovereign and sub-sovereign levels. But what is unique about our own is the fact that all the cabinet members see the need to have an input because it would be an outcome that would affect lives and different ministries and agencies.
“So, there is a need for everybody to have a say, and at the end of the day, collectively we will resolve to have a way.
“What we are trying to do is for Lagos State to do what is obtainable internationally: have a building regulation in which we have a standard of construction in design, manner of land use occupancy, and use of building materials, which we believe would eventually improve and help with health, safety, and occupancy issues.
“It is all about building sustainably, making Lagos a lot more resilient and able to absorb shock in the future and able to stand in the comity of developed cities and city-states as we see in various parts of the world,” he said.
The Special Adviser to the Governor on eGIS and Urban Development, Mr Olajide Babatunde, stated that the Lagos Building Code is to complement the existing regulatory framework and provide a comprehensive solution to the challenges of land use, physical development, and urban planning.
Mr Babatunde said the Lagos Building Code will regulate building control, planning permission, and address the issues of setbacks; take care of the safety and sustainability of the environment; and also prevent the collapse of buildings.
“We have been working on the domestication of the National Building Code, and by next year, we are going to have our own brand-new Lagos Building Code. We have worked with professional bodies and people from academia, market women, and the public in general, and through a participatory approach, we can come out with a document that is acceptable to everyone and useful to the entire state,” he said.
Also speaking, the Special Adviser to the Governor on Infrastructure, Mr Olufemi Daramola, described the Lagos State Building Code initiative by the Babajide Sanwo-Olu administration as the next step to Green Lagos that will enable the state to plan buildings properly and ensure durable infrastructure in the state.
During the retreat, members of the Lagos State Executive Council brainstormed and advocated aggressive sensitisation for residents of the State on the Lagos Building Code before implementation.
By Modupe Gbadeyanka
A report released by Spotify has revealed that in 2024, Apostle Femi Lazarus was the most streamed podcast on its platform, closely followed by Motivation Daily by Motiversity.
Podcasts are one of Africa’s favourite ways to tell stories. With almost 4 billion minutes of podcast audio played in Sub-Saharan Africa in 2024, the continent’s appetite for this content is loud and clear.
South Africa, Nigeria, and Kenya listened to the most shows this year, with South Africa contributing over 2 billion minutes. If you started playing podcasts on one device today, it would make for about 30 centuries of listening.
“The numbers don’t lie. Podcasting is here to stay because it lets creators take control of their narratives and tell these stories on their terms while bringing their community along for the journey,” the Sub-Saharan Africa Podcast Manager for Spotify, Ncebakazi Manzi, stated.
Motivational shows around issues like managing finances, relationships, personal goals and health remain popular across the three leading countries. Shows like “The Diary Of A CEO with Steven Bartlett”, “Motivation Daily by Motiversity” and “The Success Addicted Podcast” have attracted listeners who want to get their lives in order and learn from the stories of inspirational people.
Audiences in Nigeria and South Africa embrace shows about spirituality. “Christian Motivation” had one of the most shared episodes in South Africa while “Apostle Joshua Selman” maintained his popularity in Nigeria for another year. As the continent’s second-largest podcast market, Nigeria listened to 700 million minutes in 2024 and it created half of the new shows published in Sub-Saharan Africa this year.
Even though spirituality dominated Nigeria’s top charts, the continued popularity of shows like “I Said What I Said” and “The HonestBunch Podcast” tell us that listeners also want conversation-style shows. Listeners in Kenya and South Africa also showed an affinity toward these shows.
A good laugh with friends
The “ShxtsnGigs” podcast, an opinion show hosted by two best friends James and Fuhad, tapped into audiences’ hunger for conversational shows. The humorous podcast has made its way to the top charts in six of the top 10 podcast-playing African countries. In Kenya, The 97s Podcast has been inspired by this approach where funny and frank chats between hosts Trevor, Frank and Dante have led the podcast to take the number-one spot in the country for the first time.
Kenya’s broader listening data shows that relationships are a meaningful taking point. Seven of the 10 most shared episodes in the country discuss love, sex lives and dating. Julia Gaitho’s “So This Is Love” holds three out of the top five most shared podcast episodes in the country. Her interviews resonated because she draws lessons from her guest’s stories about lost lovers.
Some listeners just wanted to laugh through the pain. Ensemble shows like “Mic Cheque Podcast” and “The Sandwich Podcast” made Kenyans feel like they were hanging out with a close circle of friends. When difficult topics come up, moments of infectious laughter help lighten the mood.
Women creators like Murugi Munyi, Julia Gaitho, Sharon Machira and Lydia K.M. take this comedic approach to a new level on shows like “The Messy Inbetween” and ‘It’s Related, I Promise’. This genre contributed heavily to the country’s 400 million podcast minutes streamed in 2024.
Below are the most streamed and shared podcasts for the year;
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TOP STREAMED PODCASTS IN SOUTH AFRICA |
TOP STREAMED PODCASTS IN NIGERIA |
TOP STREAMED PODCASTS IN KENYA |
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2. Motivation Daily by Motiversity 3. Success Addicted Podcast with the voice of Earl Nightingale ; Napoleon Hill ; Jim Rohn and many more |
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TOP SHARED PODCAST EPISODES IN SOUTH AFRICA |
TOP SHARED PODCAST EPISODES IN KENYA |
TOP SHARED PODCAST EPISODES IN NIGERIA |
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By Dipo Olowookere
A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.
WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.
By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.
As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.
The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.
This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.
The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.
Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.
“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.
“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.
“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.
“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.
“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.
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