Business
Fashola Commissions ICT Centre For Police
The Lagos State Govern
ment on Monday said it would soon deploy squad cars for the use of police across various formations in the state.
Governor Babatunde Fashola made the disclosure while handing over an ICT Resource Centre at
Area “H“ Police Command in Ogudu area of the state.
The Tide reports that the centre was donated by the state government to enhance the operational efficiency of the police force across the state.
Fashola said that the squad cars were already being built in Japan, and when deployed, they would assist police personnel to respond to crimes more efficiently.
“We are at the point where we are planning squad cars for each police station, so that police officers can go in pairs with on-board computers and re-inforced shock absorbers.
“So, apart from the Hilux Vans that we have provided for the state‘s Rapid Response Squad (RRS), police officers will have dedicated squad cars.
“With this in place, they can go out in pairs and teams, the way it is done in advanced countries,“ he said.
Fashola said that the donation of the ICT centre was to help the force to improve its data management system, especially as it concerned keeping records of vehicle exhibits.
The governor said the system of littering police stations with vehicle exhibits in the course of investigation was an eye-sore, adding that the centre would eliminate keeping of vehicles at stations.
“What we have now is that many of our police stations are littered with vehicles, especially those that have to do with traffic offences.
“So, what does that system do? It diminishes the value of the vehicle to the owner. By the time the case is finished, the vehicle would have severely diminished in value, and we say we can eliminate this problem.
“When there is an accident all that is needed is for the vehicle to be brought to the station, take the photographs from all angles and release the vehicle to the owner on bond.
“And the owner is given the obligation of producing the vehicle anytime it is needed in court.
“So, all the records will be stored on the server and the system that we have provided today, that is the problem we want to solve,“ he said.
Fashola urged the police to take ownership of the centre and use it to enhance their capacity to fight crime.
Earlier, the state Commissioner of Police, Mr Kayode Aderanti, thanked Fashola for his consistent support for the state police command.
He said that the various forms of support had not only enhanced the operational capacity of the force, but also made the state safer.
“We thank you. The ICT centre is first in the country, and we assure you that it will be put to use to help achieve our dream of a crime- free Lagos,“ he said.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.