W3vina.COM Free Wordpress Themes Joomla Templates Best Wordpress Themes Premium Wordpress Themes Top Best Wordpress Themes 2012

Fashola Budgets N489.69 Billion For 2014

Lagos state governor Babatunde Fashola

…As Lagos Records Shortfall In Budget In 14 Years

Ayo Balogun, Lagos

Lagos State Governor, Babatunde Fashola has presented a budget of N489.69 billion to the State House of Assembly for approval for the 2014 fiscal year.

Lagos State Governor Raji Fashola

The budget represents a shortfall of about N10 billion when compared to the 2013 budget of N499.604 billion. This is also the first time the state government is recording shortfall in budget presentation since 1999.

The budget is made up of N234.665 billion recurrent expenditure and N255.025 billion capital expenditure, which is in the capital to recurrent ration of 52:48 as against 58:42 in the 2013 budget.

Presenting the budget to the State Assembly in Alausa, Lagos, Nigeria on Wednesday, the governor explained, “because this is the last full year budget that my administration will implement, it represents a slight reduction in budget size when compared with the 2013 budget. Its focus will be to complete on-going projects, and consolidate on the gains we have made.”

In the budget, the Total Personnel Cost/Total Revenue stood at 19% as the Total Personnel Cost/IGR is 27% and Personnel Cost as percentage of Recurrent Expenditure is 37%. A zero deficit-financing requirement is proposed for 2014 budget.

The Sectoral allocation of the budget is a follows: General Public Service, N100.215 billion; Public Order & Safety, N17,977 billion; Economic Affairs, N160.046 billion; Environmental  Protection, N39.727 billion; Housing and Community Amenities, N50.537 billion; Health, N37.8 billion; Recreation, Culture and Religion, N3.482 billion; Education, N77.423 billion and Social Protection, N2.466

According to Fashola, the budget would seek to address the implementation of various IPP projects, development of Enterprise Zone in Gberigbe, Ikorodu and Upgrading of Yaba Industrial Park; advancement of Ten-Lane Lagos-Badagry Expressway / Blue Rail Line Corridor; completion of other on-going Road Construction Projects and pedestrian bridges; Agric-YES, Accelerated Food Expansion Program: Rice, Animal Husbandry, Root Crops; improvement/maintenance of drainage channels, completion of  new sewage treatment plant at Odo Iya-Alaro; advancement of Adiyan Water works Phase II and Improvement water pipeline in Lagos West; continuous tree planting, beautification and climate change projects and several others.

Fashola did not fail to educate Lagosians on the ongoing Residents’ Registration exercise which sought to register everybody who intended to live in the state for up to six months and beyond irrespective of where they come from.

“I have issued Executive Orders to the entire Public Service to amend our forms and processes to request the provision of the citizens’ registration number which is provided whenever you register. With effect from the 1st of December 2013, it will be a requirement in terms of information to be provided in order to enable us to provide service to you or process requests from you.

“I urge you all to either go to the nearest Local Government office near you to register, or do so online at the Agency’s website or engage the mobile registration team. There is continuous information on the Radio, Television and our State website about how the process works. I am convinced that, as soon as you start providing us with your registration numbers, our capacity to respond to your requests will get faster and better,” he explained.

Please follow and like us:

Short URL: http://www.africanexaminer.com/?p=4004

Leave a Reply

Time limit is exhausted. Please reload CAPTCHA.

Follow by Email

FirstBank – advertisement



Browse Archives

Classified Adverts