Budget: Lagos, Ogun, Bayelsa, 12 Others To Spend N3.147tr In 2017

Budget: Lagos, Ogun, Bayelsa, 12 Others To Spend N3.147tr In 2017

With barely 10 days to the end of 2017, there are 20 states yet to present the 2017 budget proposals or Appropriation Bills to their respective house of Assembly ahead of eventual passage, even as a time two- Ekiti and Kaduna as early flyers, already have their budget passed and signed into law, ready for implementation.

As of Wednesday, 16 states have presented their budgets, detailing plans to spend a princely N3.147 trillion, with Lagos, Ogun and Bayelsa having the biggest chunk of the pie.

Considered along with the Federal Government’s N7.29 trillion 2017 spending plan, the 16 states and the centre have a budget of about N10 trillion. This is expected to rise significantly when figures from other big spenders among the 18 laggards such as Rivers and Delta are added to the mix.

The 2017 Lagos budget of N812.98 billion represents almost the sum of numbers proposed by: Nasarawa (N67.01 billion); Yobe (N69.4 billion); Ekiti (N93 billion); Zamfara, (N107 billion); Anambra (N115.5 billion); Jigawa (N127.8 billion); Plateau (N132 billion); Katsina (N140 billion);

Cross River follows Lagos with N301 billion; Ogun plans to spend N221.11 billion next year; and Bayelsa, N221 billion, subject to the approval of their Assemblies.

Others like Kaduna has proposed a N214.9 billion budget; Kano, N209.8 billion; Benue, N163.9 billion; Edo, N150 billion.

Presenting the Appropriation Bill tagged “the Golden Jubilee Budget,” Governor Akinwunmi Ambode said Lagos, which hopes to grow its spending to N1 trillion by 2018, said in continuation of the administration infrastructure renewal and tourism development plan, 63 per cent of the amount or N512.464 billion is earmarked for capital projects; and N300.535 billion or 36.96 per cent for recurrent spending.

The ‘golden jubilee budget’ to coincide with the state’s 50th anniversary celebration would be funded from an estimated revenue of N642.849 billion, while the balance N170.15 billion is expected from the N100 billion bond issuance programme, as well as internal and external loans.