Fashola Signs N489.69 Billion Appropriation Bill Into LawLatest News, News, News From The State Sunday, January 11th, 2015
Lagos State Governor, Mr. Babatunde Fashola has signed the 2015 budget of N489.69 billion into law. He signed the budget into law on Sunday at the State House, Marina, Lagos.
Speaking at the occasion in Marina, the governor said the signing was initially meant for tomorrow but that he has to call it forward to enable him attend a national meeting of the All Progressive Congress (APC) in Abuja on Monday.
“We are a government that is open to plan, part of the planning is for government to set the budget for the beginning of the year”, he said, adding that Lagos is the second state to sign the document after Ogun State.
“When we presented the budget, there are financial challenges but as you know our revenue has been based largely on our common contribution; that is how we build our common wealth here. We need to be innovative, inventive and hard-working and that is what we have given in the last eight years and we won’t give anything less and with the support of the people of Lagos.
“They are ownership of this government and all of its service delivery programmes and I think as difficult and challenging as the revenue issue may be we will consolidate and finish as many possible project as we can. We will continue to render services. The truth is that the service demands don’t stop.
“They continue on an incremental basis. That is why also we need experience hands to continue this work. This is why it is important not to attempt to experiment with the administration and governance of this very important state not only in Nigeria but also in the sub-region and on the African continent and indeed globally,” he stated.
The 2015 budget is made up of N241.977 billion as recurrent expenditure and capital expenditure of N247.713 billion. Works and Infrastructure got the highest vote of N72.250 billion, followed by education with N52.09 billion. Health, which came third, was allocated N32.4 billion instead of N37.81 billion or 7.72 per cent that it received in 2014.
Environmental protection received N22.76 billion. Housing got N28.67 billion, while the Lagos State House of Assembly was allocated N8.7 billion. Information and Strategy got N2.4 billion, while agriculture was allocated N2. 17billion. The House also approved a budget of N21.4 billion for Commerce and Industry as against N3.94 billion given to science and technology. The state transport sector was given N27.8 billion and Judiciary was allocated N3.44 billion.
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