The Lagos State Wealth Fund Bill and the Lagos State Civil Bill, which will be submitted to the Lagos State House of Assembly for approval, were signed by the governor of Lagos State, Babajide Sanwo-Olu.
At Ehingbeti Summit 2022 closing ceremony in Lagos, Sanwo-Olu made this announcement. The state also unveiled its 30-year development plan, which will be implemented between 2022 and 2052. The governor stated in his remarks following the signing of the two bills; that they were essential to the state’s continued development and would make conducting business in Lagos easier.
According to him, the Lagos Riches Fund Bill marked the start of the state’s sub-sovereign green bond; which would bring sustainable wealth to the city’s administration and residents.
This is essential to guarantee Lagos’s future financing and provides reserves for future planning.
He said that numerous hectares of land have been set aside for this project and that the state has received approval for the Badagry seaport.