Governor Babatunde Fashola has said that the continuous fall in crude oil price at the international market will not ground the Lagos State economy.
The governor disclosed this on Tuesday, December 16 at the formal presentation of the state`s 2012-2025 Development Plan in Ikeja, the state capital.
“Whatever happens to oil, the state will survive. This is because the state`s economy is not built on extractive resources, but on very strong foundations that had ensured continuous development,” Fashola said.
He added that “The drafting of the new economic plan for the state was to promote the state’s development and make it an African model megacity by 2025.”
The governor said though, some of the components of the plan were already being implemented by the state government, complete implementation would transform the state massively.
He listed the Adiyan Water Works, the Island Power Plant and the Alausa Plant, as some of the components of the plan that had been implemented by his administration.
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