Ambode, Agbaje: Racing for non-indigenes’ votes

LAGOS State remains the commercial capital and economic nerve center of Nigeria.

Popularly referred to as the economic hub of the country, Lagos state has a population of 20 million people, making the sprawling city bigger than the developed cities of London, Buenos Aires and even Beijing.

In Lagos, there are 20,000 people per square kilometer while it has been estimated that some 3,000 people from other states of the country flood the state every day without leaving.

But perhaps the most impressive project for the Lagos of tomorrow is no other than the Eko Atlantic, a pioneering residential and business development located on the Victoria Island, along its upmarket Bar Beach coastline.

The ambitious project is being built on three and half square miles of land reclaimed from the Atlantic Ocean and is expected to provide accommodation for 250,000 people and employment opportunities for a further 150,000.

Aside this, the United Nations has conferred a megacity status on cities with a population of 10 million and above.

Interestingly, Lagos belongs to this category.

But a megacity requires a stronger financial base. The sheer size of funding required in sustaining a megacity is beyond what a government could provide on its own.

Progressive increase

This is where creativity comes in as other sources of revenue must be sought in order to finance government’s expenditure.

These other sources include borrowing, both internally and externally, grants, bonds, Public Private Partnerships and others. In Lagos State, for instance, despite the progressive increase in the monthly Internally Generated Revenue, (IGR), of the state from a meagre N500 million in 1999 to about N20 billion presently, the state government still has to invent options to fund its projects.

Perhaps, this informed the need for the scramble for Lagos by political actors across party divides.

With elections around the corner, the battle for the governorship position in Lagos State promises to be fierce as the ruling All Progressives Congress, APC, and Peoples Democratic Party, PDP have begun flexing their political muscles ahead of the April 11, 2015 election.

For the ruling party, the polls will be keenly contested.

Already, the is cast between the APC candidate, Mr Akinwumi Ambode and his PDP counterpart, Mr Jimi Agbaje.

LAGOS State remains the commercial capital and economic nerve center of Nigeria.
Popularly referred to as the economic hub of the country, Lagos state has a population of 20 million people, making the sprawling city bigger than the developed cities of London, Buenos Aires and even Beijing.
In Lagos, there are 20,000 people per square kilometer while it has been estimated that some 3,000 people from other states of the country flood the state every day without leaving.
But perhaps the most impressive project for the Lagos of tomorrow is no other than the Eko Atlantic, a pioneering residential and business development located on the Victoria Island, along its upmarket Bar Beach coastline.
The ambitious project is being built on three and half square miles of land reclaimed from the Atlantic Ocean and is expected to provide accommodation for 250,000 people and employment opportunities for a further 150,000.
Aside this, the United Nations has conferred a megacity status on cities with a population of 10 million and above.
Interestingly, Lagos belongs to this category.
But a megacity requires a stronger financial base. The sheer size of funding required in sustaining a megacity is beyond what a government could provide on its own.
Progressive increase
This is where creativity comes in as other sources of revenue must be sought in order to finance government’s expenditure.
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