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Senate c’ttee lauds Lagos on $400m loan utilization

The Senate Ad-Hoc Committee on Development Policy Operation has commended Lagos State government for what it called effective utilisation of the first two tranches of…

The Senate Ad-Hoc Committee on Development Policy Operation has commended Lagos State government for what it called effective utilisation of the first two tranches of World Bank loan; DPO (I) and DPO (II) that was approved for the state in 2010 and 2013.
 The committee gave the commendation after inspecting the 1.36km Lekki-Ikoyi link bridge,  the Cardiac and Renal Centre located within the Gbagada General Hospital and the Blue Line Light Rail project along the Mile 2- Orile-Iganmun corridor.
Chairman of the committee, Senator Kabiru Gaya, who led other members to inspect some capital projects in the state, expressed satisfaction with the work done so far, urging other states to emulate Lagos.
 “It is a very impressive outing. If every facility is being utilised in the manner I have seen, I think there will be need to give out more loans. What we have seen on ground is very nice. I appreciate and commend Lagos State government for using the money for the purpose for which it was collected,” he said.
  The senator representing Lagos-West District, Solomon Olamilekan, thanked the committee for going round to see things for themselves,  saying it would go a long way to ensure that the last tranche, if approved, is judiciously utilised.
The World Bank in 2010 approved a DPO loan for a total sum of US$600 million to the Lagos State government to be implemented in three tranches. Two have been collected and President Muhammadu Buhari in September wrote to the Senate to expeditiously approve the third tranche of $200million to enable the state consolidate on the gains of the second tranche.

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