Tag: LASG

  • LASG initiates affordable home ownership scheme for residents

    LASG initiates affordable home ownership scheme for residents

    The Lagos State Government has initiated a flexible home ownership scheme to allow residents to own houses with ease.

    Mr Gbolahan Lawal, the state Commissioner for Housing, made this known in an interview with the newsmen on Wednesday in Lagos.

    Lawal said that the idea was to make housing more readily available to the teeming Lagos population.

    “Rent-to-own is a new policy introduced by Governor Akinwunmi Ambode’s administration, designed to make housing more readily available to the teeming population of Lagos.

    “It is a system whereby prospective home owners make five per cent down payment, take possession and pay up the balance as rent over a period of 10 years.

    “The policy is to ensure that more people that would not have been home owners are accommodated,” Lawal said.

    The commissioner said that the Rent-to-Own Scheme was aimed at bridging the 2.55 million housing deficit in Lagos within the next two years.

    He said that 20 per cent of all completed mass housing units in the state had been earmarked for the home ownership scheme.

    “We will sensitise citizens and residents to own their houses with five per cent of the value of such houses as equity.

    “Twenty per cent of all completed mass housing estate have been earmarked for this scheme.

    “All that is required is that applicants must be residents of Lagos, must be first time buyers, must be 21 year-old and above and must be tax compliant,” he said.

     

    NAN

  • LASG issues N47bn Bond

    LASG issues N47bn Bond

    The Lagos State Government on Friday issued its N47 billion Series 1 Bond maturing in December, 2023 under its N500 billion Third Debt Issuance Programme.

    Governor Akinwunmi Ambode, at the signing ceremony held at the Lagos House, Ikeja, said that the programme was targeted at improving the physical and social infrastructure base of the state.

    “The book keeping was concluded on Dec. 23 with the first issuance priced at 16.5 per cent.

    “Despite the continued challenges in the economy and difficult market conditions which have seen the last three Federal Government Bond auctions undersubscribed by an average 32 per cent, the state has sold some 80 per cent of the bonds it offered at a 57bps spread to the sovereign,” Ambode said.

    He expressed appreciation for the confidence investors had reposed in the state government, saying that it was an eloquent testimony of the state government’s credit worthiness.

    “We are truly humbled by the confidence investors have once again demonstrated in the Lagos State credit story.

    “The Lagos State Government remains committed to improving the physical and social infrastructure base of the state.

    “It is proud of its reputation as a most responsible issuer in the Nigerian capital markets,’’ the governor said.

    Also, the Chief Executive Officer, Chapel Hill Denham, Financial Advisers and Lead Book Runners, Mr Bolaji Balogun, said that state was leading from the front in the issuance of bond in spite of the prevailing market dynamics.

    He said, “We are deeply honoured to work with the Lagos State Government.

    “It has again affirmed its peerless credit reputation in tricky market conditions right at the end of the year to issue the only bond by a state in Nigeria, in 2016.

    “I thank all of our colleagues in the issuing party for working with us to deliver a successful outcome,” Balogun said.

     

     

    NAN

  • LASG to generate electricity from waste

    LASG to generate electricity from waste

    As an effective measure of checking indiscriminate dumping of wastes and providing economically buoyant recycling system, the Lagos State Government has proposed a world class model approach to environment waste management in the state.

    The state proposes to convert Olusosun, a popular landfill that has been a dumping ground for years, as model for the urban renewal and waste to wealth initiatives.

    The Commissioner for the Environment, Dr. Babatunde Adejare, while announcing the inauguration of the ‘Cleaner Lagos Initiative’, said the government was committed to finding renewable energy sources for the grossly underserved parts of the state.

    Adejare said that five new power stations, one in each division of the state, would be built to generate electricity from waste, and that the numerous dumpsites dotting the state would soon be a thing of the past.

    In his words: “We are serious about meeting Lagos’ electricity needs because power is the key to economic freedom; we have shown in the past that renewable energy projects can work in Lagos with the use of solar energy, but we have only just begun.

    “We must harness expertise from the private sector and utility partners to work with us as we move towards a cleaner, healthier and sustainable Lagos. We will close down Olusosun and Solus dumpsites sometime next year. Dumpsites are dangerous to health and the environment. The leachate and gas to be recovered from the proposed sanitary landfills will be put to good use.”

    He stated that the state planned to regenerate Olusosun and turn it into a park, where intercity buses would end their journey and would no longer be allowed to enter into the city.

    “Passengers will from there take taxis and intra-city buses to their destinations in town,” he said.

  • Apapa Mob Action: LASG condemns brutal murder of LASTMA official

    …Vows to prosecute perpetrators

    …Denies involvement of Agency in motor boy’s death

    The Lagos State Government on Friday condemned in strong terms the mob action that led to the death of an officer of the Lagos State Traffic Management Authority (LASTMA), Mr. Tajudeen Olatunji Bakare and vowed to bring the perpetrators to book.

    The Government also denied involvement of LASTMA in an incident which led to the death of a motor boy attached to a Tanker in Apapa area of the State on Thursday.

    As a result of the incident, a mob in the area had gathered to attack the said LASTMA Official and stoned him to death.

    Bakare, a level 14 officer, was said to have been attacked by the irate mob due to a loose comment by a passerby, while his two eyes were removed and stabbed, after which he was stoned to death.

    Addressing a press briefing on the incident on Friday, the State’s Acting Commissioner for Transportation, Prince Anofiu Elegushi condemned the brutal murder of the officer, saying that the development was one death too many and most unfortunate, as the victim was killed while performing his lawful duties of making Apapa safe for motorists and commuters.

    Elegushi, who addressed the briefing alongside the Chief Executive Officer of LASTMA, Mr. Chris Olakpe and the General Manager of the Agency, Bashir Braimoh, said the officer was killed for an incident he knew absolutely nothing about, adding that it was painful that LASTMA officials were being given raw deals either by the people they were meant to serve or security officers, and that such must stop.

    “Officer Bakare did not lose his life to an accident. No. His life was taken by persons whose only response to an incident is to resort to “jungle justice” even when they were not sure of the play of event. Our officer was murdered by blood thirsty hounds who parade themselves as purveyors of transportation,” Elegushi said.

    He said the gallant officer was brought down in a situation where LASTMA was clearly not culpable, and urged the Nigerian Police to do a thorough investigation and bring the perpetrators to book, saying justice must be served.

    Contrary to earlier insinuation, the Commissioner said an eye witness account revealed that LASTMA vehicle did not kill anyone, but that it was the driver of the said Tanker that killed his motor boy who was asleep under the vehicle.

    Speaking authoritatively, Elegushi alleged that the mob action was carried out by Tanker Drivers, Okada Riders and other persons who live around them, all of whom he said were persons violating traffic laws, adding that the deceased LASTMA officer was a victim of forceful take-over of roads by a group of people who desire to become a law unto themselves.

    He added: “As a government, we have over the years, asked Tank Farms to provide alternatives; we have engaged with the operators and Tanker Drivers yet they remain intransigent. To avoid situations such as this, we have proffered options but we remain undaunted in our resolve.

    “The Ministry of Transportation, the supervisor of LASTMA and the management of the agency are irrevocably committed to that singular responsibility of ensuring that Lagos roads remain safe and traffic flows to enable the State’s economy to thrive. We do so believing that all residents and visitors to the State obey all our laws and live in tandem with our vision of the community we desire to live in a Lagosians.”

    While debunking insinuation that enforcement of traffic laws in the State were geared towards revenue generation, Elegushi said the State was not in dire need of cash to warrant such, adding that the commitment of the government was to engender compliance with the traffic laws and enforce the law with civility as directed by Governor Akinwunmi Ambode.

    Also speaking, Olakpe said the incident was most unfortunate as LASTMA officials are usually trained and retrained on how to be firm, fair and friendly while dealing with members of the public.

    Olakpe, who urged the public to desist from mob attack on officers of the agency as it was against the law, said the agency can be reached for complaints through 08129928646.

     

  • LASG urges massive turn-out Saturday for bye election in Ifako-Ijaiye

    LASG urges massive turn-out Saturday for bye election in Ifako-Ijaiye

    The Lagos State Government on Friday urged all registered voters of Ifako-Ijaiye Federal Constituency to come out enmasse to vote during the bye elections to fill the House of Representatives seat vacated by All Progressives Congress (APC) candidate, late Dr Elijah Adewale holding on Saturday, December 3, 2016.

    According to a statement signed by the Secretary to the State Government, (SSG) Mr Tunji Bello, all other residents across the state are enjoined to go about their lawful businesses in an orderly manner.

    The statement added that there would be no restriction of movement during the exercise.

    The SSG also said that adequate security measures have been put in place to monitor the exercise and protect the citizens who would be exercising their civic responsibilities.

    The election which is being organised by the Independent National Electoral Commission (INEC) would be contested by many political parties.

    The former House of Representatives member representing All Progressives Congress (APC), Dr Elijah Olu Adewale passed away on July 20, 2016.