Date Published: 09/30/09

I knew the Lagos Assignment will be tough...Lagos Governor, Fashola...

Lagos State Governor, Babatunde fashola has said that the enormity of the task in lagos did not take him by surprise saying'  I had a fair idea of what i was coming into'

Fashola, who spoke with pointblanknews in Lagos disclosed that the state would need N1 trillion per year budget over the next five to ten years if the state must take care of its deficit.

He raised concerns about the lack of highly skilled personnel and near zero investment by citizens in the construction industry in the state.

He however added " What we have is that local contarctors and the ones who are in partnership with foriegn frims are running a multiplicity of projects with the state"

Fashola stressed further that " giving the limited resources, we are trying to work out an equitable way , first to to keep the cash cow of the state's economy , the central and fianancial business district of the Island. We must keep that cash cow active, and also support the weak and poor areas of the state"

On independent power generation the governor said " The Federal government maintains an exclusive control of the tranmission and distribution of power. So even if power is generated , how do you transmit , and do you take it to the homes . Pwer has to be paid for.

He argued further that " it cant be profitable for anybody, or an investor to invest in the power sector , where you cant control how to make profit"

Fashola who debunked claims that the state was de-industrializing, stressed that the state was also focussing on small businesses like the cottage industry in the state.