The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, has advanced reasons why the Lagos State Water Corporation must be privatised.
Obasa, at a meeting with senior media practitioners and civil society groups on Wednesday, said for Lagosians to have clean water, heavy investments must be made into the process.
Speaking during the parley to mark the first year of the Assembly, Obasa said the Lagos State Water Corporation not only needs chemicals to make clean water available to the people of the State, but new and modern equipment.
He said the State does not have the kind of resources that can fund the rejuvenation of the corporation, hence the need to privatise it.
He said at present, water being sold by the LSWC was “below cost price”, adding: “If you want clean water and to stop people from digging borehole, you must privatize the agency.
“Foreign partners want to come in and this is at a cost.
“Then come to think of the dangers of sinking boreholes.
“So what we are trying to do now is to create the conducive environment for the foreign investors to come in.”