By Olasunkanmi Akoni & Monsur Olowoopejo

Lagos State Government has in the last four years, secured a sum of $300 million, about N45.6 billion multi-lateral loans from various international agencies to finance different projects in the state.The state government also generated a sum of N3.02 billion between 2009 and 2010 from the payment of land use charge.

It also remitted N22.703 billion to the contributory pension scheme.

Commissioner for Finance, Mr. Rotimi Oyekan, spoke, yesterday, at the ministerial media briefing on the activities of his ministry as well as commemoration of the fourth year in office of Governor Babatunde Fashola of the state, in Lagos.

$200 million out of the loan, which is the largest World Bank direct funding to a sub-national government till date, the commissioner said, was obtained to increase sustainable access to basic urban services through investments in critical infrastructure, while $100 million funding was obtained from the French Development Agency, FDA,  for the development of an efficient transportation system.