The Lagos State Government said it is engaging a holistic approach to restarting the state’s economy and re-imagining its operations toward surviving the COVID-19 pandemic in its year 2021 budget.
Mr Samuel Egube, the State Commissioner for Economic Planning and Budget, made this known at the 2021 Budget Consultative Forum on Tuesday in Lagos.
Egube said that in order to minimize the effect of the pandemic, the state government had implemented interventions along the line of aggressive healthcare responses, business support, sustainability measures, and relief to the poor.
“The state government has increased commitment to Micro, Small and Medium Enterprises MSMEs to help them during and post COVID-19.
We intend to adopt consolidation and tactical redirection to areas that would help employment, food production, and security, particularly to overcome the effects of COVID-19.
“We are going to flag off our internship programme by the Ministry of Wealth.
“The idea is to get people to work, and the state government will pay them while working for SMEs to gather experience and tackle unemployment,” the commissioner said.
“The COVID-19 pandemic with its resultant health and economic impacts greatly affected the state, like other geographies around the world, and changed the context within which we execute the development agenda.
“Within this very difficult context, LASG was able to achieve greater revenues, while managing expenditure with revenue stronger by six percent against the approved budget.
“In view of the dwindling revenue of the State’s Internally Generated Revenue (IGR) due to the pandemic, LASG is committed to growing the state’s IGR to sustain its developmental projects.
“We will continue to minimise wastage through tighter expenditure controls and promote prudent spending.
“Plans to invest in comparative advantage areas such as aquaculture for quick wins was underway,” he said.