SANWO-OLU: We saved N12BN from restructuring of internal loans

•To Build General Hospital In Amuwo-Odofin, Psychiatric Hospital in Ketu, Others

Lagos State Governor, Mr Babajide Sanwo-Olu on Tuesday said his administration negotiated and was able to save about N12 Billion from the restructuring of the existing internal loans owed by the State Government.

Speaking during the presentation of the Year 2021 Appropriation Bill to the House of Assembly for consideration and passage, Sanwo-Olu said as a result of the restructuring, the government was able to negotiate some of the loan portfolios from double digits to single digit.

According to the Governor, through deliberate programmes, the government was able to restructure some of the existing internal loans from 18 per cent to 12 per cent, while some of the loans were restructured from double digits to single digit of 6 per cent and 9 per cent.

“Though the restructuring, we were able to save about N12 Billion,” the Governor said.

On some of the plans of the government for health sector as captured in the 2021 budget christened “Budget of Rekindled Hope,” Governor Sanwo-Olu said a General Hospital will be constructed in Amuwo-Odofin, a Psychiatric Hospital in Ketu, as well as Lagos State Infectious Disease Research Centre will be constructed in Yaba.

He said as part of measures to ramp up the health sector, 760 health workers were recruited including Doctors, Nurses, lab scientists, among other professionals in the sector.

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