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Lagos House of Assembly Passes Fashola’s N489.69 billion 2014 Budget

Lagos State House of Assembly has approved a total sum of N489.69 billion as 2014 budget for Governor Babatunde Fashola.

Lagos state governor Babatunde Fashola

Lagos state governor Babatunde Fashola

African Examiner reports that the amount was 3.43 per cent lower than the last year’s budget of N499.105 billion naira.

Out of the total appropriation, N234.665billion is for recurrent expenditure while N255.025 billion is earmarked for the Capital Expenditure.

The House passed the budget, having considered the recommendation of its Appropriation Committee headed by Mr Mudashiru Obasa.

The breakdown of the budget shows that the state will spend the sum of N51.378 billion on Education; Heath gets N22.07billion; Works and Infrastructure N100.12billion and Environment N25.67billillion.

Others are Agriculture and Cooperative N23.21billion; Transportation N29.13billion; Information and Strategy N28.73billion; Judiciary N31.28billion; Commerce and Industry N7.98billion; and Women Affairs, Poverty Alleviation N1.36billion; and House of Assembly takes N11.8billion.

The clerk of the house is expected to send the appropriation bill to the governor for his assent.

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