By Sola Gbadebo
Over the past two years, the bulk of the Lagos State Government revenue has been spent on capital expenditure, specifically physical and social infrastructural development. In 2017, 54 per cent of the state’s income was voted for infrastructure; in 2016, it was 58 per cent and for 2018, a massive 67 per cent capital expenditure is proposed.
Such substantial deployment of revenue to infrastructure is indeed justified if real progress must be achieved. And this is particularly so for Lagos State, which has an estimated population of 24 million people, projected by the African Development Bank to double by 2025. The latest United Nations’ report on population, World Population Prospects: The 2017 Revision, projected that Nigeria will unseat the United States as the third largest population in the world by 2050. The impact of such population growth will be very…
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