World Economy

Plans to Rev Up Lagos Economy

Plans to Rev Up Lagos EconomyPlans to Rev Up Lagos Economy

The Nigerian government has perfected plans to bring about a quantum leap to the Lagos’s economy in 2018 through the Embedded Power Supply Project and the review of the Land Use Charge Law, AllAfrica reported. The power project, aimed at delivering an estimated 3,000 megawatts to homes and industries in Lagos, is expected to lift the economy of the state which is Nigeria’s industrial hub, while the revised Land Use Charge Law had been designed to improve the value of property in the state. The state’s house of assembly had last week announced the passage of two bills expected to provide the legal framework for the programs by enacting the Lagos State Embedded Power Supply Law 2018 and the Lagos State Land Use Charge Law 2018. Both laws are expected to be signed this week by the state governor Akinwunmi Ambode. Speaking on the development, commissioner for information and strategy Kehinde Bamigbetan said the two strategic laws were part of the grand plan of the present administration to boost the economy and make life easier and comfortable for the people.



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