Lagos seeks N31bn loan from World Bank

By MONSUR OLOWOOPEJO

IKEJA—Lagos State Government is seeking N31.4 billion ($200m) loan from the World Bank, to fund strategic projects in the state this year.

The government also said it paid over N192 million as compensation to dependants of 249 deceased staff in the state in the year under review.

Commissioner for Finance, Mr. Adetokunbo Abiru, yesterday, during a ministerial briefing in Lagos, to commemorate the first year of the second term in office of Governor Babatunde Fashola, said the fund was to assist the government in key areas of the budget.

Abiru listed the areas to include budget planning and execution, investment, climate improvement and revenue generation enhancement, explaining that it was a budget support granted by the bank for three consecutive years to the government.