Third Lagos State Development Policy Operation

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The Lagos State Development Policy Program consists of a series of two programmatic operations (second and third lagos state development policy operation) that supports the Lagos State Government (LASG) in its endeavor to improve public finances and the investment climate in support of sustained rapid growth and poverty reduction in a fiscally sustainable manner. The program encompasses four pillars of the development policy operation (DPO): (a) fiscal sustainability, (b) budget planning and preparation, (c) budget execution, and (d) investment climate. The Third Lagos State DPO (TSLSDPO) in the amount of United States (U.S.) 200 million dollars (equivalent) will deepen the reforms agenda through implementation of indicative triggers for TLSDPO highlighted in the SLSDPO program document presented to the Board in March 2014. Strong growth supported by prudent macroeconomic management over the last few years, however, has not always translated into improved socio-economic outcomes. Nigerian states, which account for over 50 percent of revenue and expenditure, are playing a more prominent role in Nigeria’s development.