NIGERIA- The Senate yesterday approved the inclusion of Lagos State Development Policy Operation II (DPO) into the proposed pipeline projects under the 2012-2014 external borrowing plan which would allow the state government to borrow the second tranche of $200 million from the World Bank.

The above decision was taken by the Senate after considering the report of Committee on Local and Foreign Debts, led by Ehigie Uzamere (APC-Edo).

President Goodluck Jonathan had on October 24, urged the National Assembly to include the Lagos State Development Policy Operation (DPO) of $200 million into the 2012-2014 Medium Term Borrowing Plan (MTBP).

Mr. Jonathan said the fund formed part of the credit of $600 million granted to the Lagos State Government in 2010 for implementation in three batches.

The President’s letter to the Senate President, David Mark, which was read during a plenary session, said the amount was not captured in the 2012-2014 MTBP.

“The World Bank approved a Development Policy Operation (Budget Support) for a total credit amount of 600 million dollars to the Lagos State Government in 2010.

“The fund is expected to be implemented in three tranches of 200 million dollars each.

“The first tranche was approved by the National Assembly in the 2010 Borrowing Plan,” he said.

The proposed $200 million DPO is to enable the state to complete some critical infrastructure projects, including the Ultra-modern Burns Centre and Cardiac and Renal Centre in Gbagada.

Furthermore, the credit facility is expected to cover the 27km rail on the Lagos-Badagry Expressway Corridor to Marina and the completion of the 70 million gallop per day Adiyan water facility.