August 2nd, 2007
By Fabian Ozor,Senior Correspondent, Lagos

Commissioner for Information, Opeyemi Bamidele, disclosed this on Tuesday night while answering questions on how the funds would be spent.

President Umaru Yar’Adua recently ordered the release of the funds seized by his predecessor, Chief Olusegun Obasanjo.

The announcement was greeted with wild jubilation across the state.

However, Bamidele said the money would be used to develop the local government areas.

He added that since the money does not belong to the state government, it would only act as a clearing house.

But the government would ensure the money is adequately used for the good of the people.

The commissioner disclosed that Governor Babatunde Fashola would soon send a supplementary budget to the state House of Assembly to enable his administration execute some projects this year. The Budget Office, he said, is still working on the details.

Bamidele also disclosed that the government has raised the cost of extending the Isheri - LASU Road to a dual carriageway by N3.725 billion. The increase, he explained, is for additional work like provision of service lane, bus lay-byes, rail route due to the planned rail lines, among others.

The commissioner said the State Executive Council has approved N27 billion for the rehabilitation, construction and renovation of classrooms especially at the primary school level.

He said 2,500 classrooms would be rehabilitated at the cost of N6.250 billion while construction of 5,000 classrooms would cost N21 billion.