The Lagos State Governor, Mr. Akinwunmi Ambode has presented the 2018 budget estimate before the Lagos State House of Assembly.
The projected budget size is One Trillion, Forty-Six Billion, One Hundred and Twenty-One Million, One Hundred and Eighty-one Thousand, Six Hundred and Eighty naira (N1,046,121).
According to Governor Ambode, “The budget will be used to consolidate on infrastructure, education, transportation/traffic management, security and health, with an added emphasis on mandatory capacity building for civil servants, all teachers in public secondary/primary schools, officers in the health service sector and women and youth empowerment.”
He said that the estimate of total revenue for year 2018 is N897.423billion, of which N720.123billion would be generated internally.
While speaking at the presentation, Ambode outlined the key components of the budget, stating that capital expenditure would gulp N699.082billion while N347.039billion would be dedicated to recurrent expenditure, representing a Capital/Recurrent ratio of 67 percent to 33 percent and a 28.67 percent increase over Y2017 budget.
The Governor also listed key projects captured in the 2018 Budget to include the Agege Pen Cinema flyover; alternative routes through Oke-Ira in Eti-Osa to Epe-Lekki Expressway; the 8km regional road to serve as alternative route to connect Victoria Garden City (VGC) with Freedom Road in Lekki Phase I; completion of the on-going reconstruction of Oshodi International Airport Road into a 10-lane road and the BRT Lane from Oshodi to Abule-Egba.
Giving a sectorial breakdown at a press briefing in Alausa, Ikeja Lagos Mainland, Commissioner for Finance, Mr. Akinyemi Ashade said that: “General Public Services got N171,623bn, representing 16.41 percent, Public Order and Safety, N46.612bn, representing 4.46, Economic Affairs, N473,866bn, 45.30 percent; Environmental Protection, N54,582bn, representing 5.22percent while Housing and Community Amenities got N59,904bn, representing 5.73 percent.”
Ashade also told journalists that the Health sector got N92.676billion, representing 8.86percent; Recreation, Culture and Religion got N12.511billion, representing 1.20 percent; Education got N126.302billion representing 12.07percent, while Social Protection got N8.042billion representing 0.77percent.
He added that despite the modest achievements recorded in 2017, there are still much work ahead, assuring that the Government would not relent in its efforts to give Lagosian residents the best by way of continuous and efficient service delivery.