PROCEEDS FROM N100BN BOND UTILISED FOR CAPITAL PROJECTS – DMO….picked from Alausa Alert

Permanent Secretary, Lagos State Debt Management Office (DMO), Mr. Olujimi Ige, has disclosed that funds accessed by the State Ministries, Departments and Agencies, from the proceeds of the N100bn Bond issued in January 2020, were used for developmental and capital projects.

While noting that the projects cut across different sectors including Health, Education, Works, Housing, Drainage and Agriculture amongst others, Permanent Secretary, disclosed that some of the projects are nearing completion.

According to Ige, part of the mandate of the DMO is to monitor the utilisation of the Bond proceeds and ensure that the funds are optimally used for the designated projects.

He listed some of the projects for which the proceeds from N100bn Bond were utilised to include the Pen Cinema Flyover, Agege; Lekki Regional Road Construction, Lekki; Reconstruction of Lagos-Badagry Dual Carriage Expressway, Badagry; Rehabilitation of Oba Sekumade Road, Ikorodu and Rehabilitation of Olusosun, Solous and Abule Egba Landfills.

Others are the construction of Ojo General Hospital and Spinal Neurology Centre, Ojo; development/renovation of healthcare facilities; equipping and furnishing of MCC, Epe; construction of new Massey Children’s Hospital, Lagos Island; channelisation/dredging of two waterways from Ikorodu to Falomo and Ojo-Badagry-Apa routes to mention a few.