Archive Why Lagos Is Not Affected by Recession - Ambode

Why Lagos Is Not Affected by Recession – Ambode

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Governor Akinwunmi Ambode of Lagos State has identified two reasons why Lagos State is not affected by the current economic recession in the country.
The governor attributed the state’s immunity to the current economic recession to the virile revenue base and fiscal discipline within the state.
Ambode made the remark, yesterday, at Ojokoro LCDA during the ongoing simultaneous commissioning of newly constructed roads, held in 10 councils of the state.
The governor, who was represented by a member of the House of Representatives, Rotimi Agunsoye, representing Kosofe Federal Constituency, said:
“The reason Lagos State is not feeling the impact of recession so much, is simply because of its revenue base as well as the financial prudence. This has helped us not to feel the impact like other states.”
He disclosed that the N19 billion funds for the construction of the 114 roads was sourced through taxes paid by residents.

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