Lagos proposes N1.046trn budget for 2018 with 67% capital vote
December 11, 20171.1K views0 comments
Akinwunmi Ambode, Lagos governor, has presented the year 2018 budget proposal of N1.046trillion to the state House of Assembly, with capital expenditure receiving the highest allocation of N699.082 billion representing 67 percent of the total budget.
The recurrent expenditure stands at N347.039 billion or 33 percent of the budget, representing a 28.67 percent increase over the 2017 budget.
Christened “Budget of Progress and Development”, Ambode said it would be used to consolidate on the achievements recorded so far in infrastructure, education, transportation/traffic management, security and health sectors.
He said the budget would also focus on mandatory capacity building for civil servants, teachers in public secondary/primary schools, officers in the health service sector and women & youth empowerment alongside medium and small/micro sized entrepreneurs (MSMSE’s).
He pledged that his administration would make every effort to complete all ongoing projects as well as initiate new ones to consolidate on the development recorded in the last 30 months.
Giving a sectoral breakdown at a press briefing in Alausa, Akinyemi Ashade, commissioner for finance, said Economic Affairs got N473.866 billion representing 45.30 percent; General Public Services N171,623 billion (16.41%); Education N126.302 billion (12.07%); Health N92.676 billion (8.86%); Public Order and Safety, N46.612 billion (4.46%); and Environmental Protection N54,582 billion (5.22%).
Ashade also told journalists that Housing and Community Amenities got allocation of N59,904 billion (5.73%); Recreation, Culture and Religion N12.511 billion (1.20%); while Social Protection got N8.042 billion representing 0.77 percent.
Receiving the budget, Mudashiru Obasa, speaker of the House, commended the governor for faithfully executing the year 2017 budget, saying the positive impact of such had been felt across the state with various projects such as the Abule Egba, Ajah and Pen Cinema Flyovers, among other numerous projects in various sectors.
Obasa, lauded the 2018 budget estimate for its provisions for continuous infrastructural development in various sectors such as transport, security, environment, housing, health and capacity building for all public servants including teachers and health workers.
He however assured that the House would scrutinize it and ensure that the budget delivered on its promises to stimulate the economy of the state by focusing on infrastructure development, delivering inclusive growth and prioritizing the welfare of all Lagosians.
The event was attended by dignitaries in the state including members of the State Executive Council led by Idiat Adebule, the deputy governor.