New Telegraph

Lagos commends CSRF for community development projects

Lagos State Government has commended Custodian Social Responsibility Foundation (CSRF), an arm of Custodian Investment Plc, for embarking on community development projects, including road rehabilitation, around its base of operations in Yaba.

Governor Babatunde Sanwo-Olu, who gave the commendation yesterday at the official handing over of the completed project to the state government in Lagos, explained that the state government was deliberately focused on infrastructure development and innovation in its quest to achieve the transportation and traffic management pillar in its THEMES Agenda. “Lagos State, like all other states in the country, also has infrastructure funding challenges. There is no gainsaying that the government alone cannot provide funds for the entire infrastructure needs of the state. Therefore, the only available option available to the government is to be creative and to look for ways to provide extra budgetary funding for the maintenance of roads,” the governor said.

The governor, who was represented by the Special Adviser on Works and Infrastructure, Engineer Aramide Adeyoye, noted that it was in this light that the project proposal by Custodian Social Responsibility Foundation was approved for execution. “This completed strategic link road project, situated in Yaba LCDA, which was approved last December under a Public Infrastructure Improvement Partnership (PIIP) Programme, is 149 metres in length with an average width of 7.5m. The scope of the project includes scarification to a depth of 500mm. It has a build back up with 200mm sharp sand, 150mm crushed stone base and 50mm sand bed, complete with semi rigid 80mm thick interlocking pavement.

It also has drains and streetlights components. “Through the delivery of this project, we have been able to demonstrate the linkage of road infrastructure delivery to employment generation, and perhaps, as a component of Corporate Social Responsibility (CSR). We hope this will encourage further private sector participation in our developmental strides,” Sanwo- Olu said.

“It is on this note that I want to appreciate Custodian Investment for its collaborative efforts in the delivery of this project, which will no doubt reduce travel time, save man-hours that would have been otherwise lost to traffic, provide better riding surface, boost interconnectivity and generally make life more meaningful to commuters,” he added. Also speaking, the Chief Executive Officer of CSRF, Mrs. Olubunmi Aderemi, said the foundation supports four pillars, including Education, Health, Sustainability and Community Development. He added that the reconstruction of Chapel Street was not their first initiative in the community.

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