The continuous fall in crude oil price at the international market will
not ground the Lagos State economy, Gov. Babatunde Fashola said on
Tuesday.
Fashola said this at the formal presentation of the state`s 2012-2025 Development Plan in Ikeja.
According to him, the Lagos economy was not built to rely on earnings from any extractive resource.
“The uncertainties in the oil market cannot have serious effects on the state`s economy.
“The state`s economy thrives on its diversity, its rich human
resources, strong immigrant capital and government`s sound fiscal
policies. “Whatever happens to oil, the state will survive. This is because the
state`s economy is not built on extractive resources, but on very
strong foundations that had ensured continuous development, “ he said.
Fashola said that the drafting of the new economic plan for the state
was to promote the state`s development and make it an African model
megacity by 2025. He said though, some of the components of the plan were already being
implemented by the state government, complete implementation would
transform the state massively.
The governor listed the 70 million Adiyan Water Works, the Island
Power Plant and the Alausa Plant, as some of the components of the plan
that had been implemented by his administration. Fashola enjoined residents to see the plan as their own and work with
the state government to ensure its successful implementation.
Source: NIGERIANBULLETIN
Post a Comment