Governor Ambode Will Use Lagos Loans Judiciously – Senator Ashafa

Senator Gbenga Ashafa, representing Lagos East Senatorial Constituency, has assured all Lagosians that Governor Akinwunmi Ambode will make judicious use of the $200m the World Bank loan.

The senator said this on Tuesday, November 9th 2015, a day after the Senate Ad-hoc Committee on Foreign and Local Debts visited Lagos on an inspection tour of projects. In 2010, the World Bank approved a Development Policy Operation (DPO) loan of US$600 million to the Lagos State Government. The loan was to be granted over three tranches with US$200 million given each in each phase. The committee had visited to see what the $400 million received in the first two tranches had been spent on before making its recommendation to the senate on the remaining $200 million.

Speaking on the visit, Senator Ashafa said every member of the committee agreed that the Lagos state government had utilised the loans excellently for the projects they were meant for and said he was certain that the Ambode administration would carry on the good tradition.

“The past administration of Babatunde Fashola invested the money wisely and prudently and paid very good attention to detail. When we got to the various sites, work was on schedule and the contractors seemed happy and confident,” Senator Ashahfa said.

“I am certain that with Governor Ambode, who showed he was a brilliant, creative and prudent accountant when he was the Accountant General of the state, more of the same will happen. Lagos state has always had governors who put the interest of the people first; leaders that extract the maximum value from every kobo kept in their trust.

“All my colleagues in the committee agree that the $400 million have been well spent and I can’t see any reason why the remaining $200 million will not be approved by the Senate.”

The committee visited the 1.36km Lekki-Ikoyi Link Bridge, the Gbagada General Hospital, the Lagos State University Teaching Hospital, and the Light Rail Project along the Mile 2- Orile corridor amongst others.

Other members of the Committee who were on the visit include Chairman of the Committee, Senator Kabiru Gaya, Solomon Olamilekan, Senator Buka Abba Ibrahim, Senator Emmanuel Paulker, Senator Duro Faseyi and Senator Ibrahim Abdulla.


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