The Lagos State Gov., Mr. Babatunde Fashola, on Wednesday presented budget estimates of N489.7 billion for the year 2014 to the State House of Assembly.
The budget, made up of capital expenditure of N225.02 billion and a recurrent figure of N234. 67 billion, is about N8 billion less than the 2013 estimates of N497.27 billion.
“Let me start by saying emphatically that budget implementation in Lagos is no longer a matter of capacity, as we have a highly resourceful and well-motivated work force in the public service,” the governor said,
Its capital to recurrent ratio is 58:42 for the year 2014, as against 52:48 in 2013.
A breakdown of the budget showed that General Public Service received an allocation of N100, 215 billion, which amounts to 20.47 per cent, while Public Order and Safety is to receive N17.97 billion at 3.6 per cent, compared.
The breakdown also showed that Economic Affairs received N160.05 billion (32.68 per cent); Environmental Protection, N39.73 billion (8.11 per cent); Housing and Community Amenities, N50.54 billion, (10.32 per cent; Health (N37.81 billion) Recreation, culture and religion (N3.48 billion).
Fashola also said of the budget proposal: “The budget is constrained by the limitation of financial resources. As our population continues to grow, the provision that we require to support them and meet their expectation are also growing.
“Regrettably, the financial resources are not growing at the rate of our people’s expectation.
“In order to sustain this progress, we therefore propose a budget of N489.690 billion for the year 2014,” Fashola said.
Mr. Adeyemi Ikuforiji, the Speaker of the House, said that the presentation of the budget by the governor before the House was a constitutional matter.
Ikuforiji said that adherence to the counsel has been the Assembly’s watchword in dealing with the executive arm of government in the budgetary process of Lagos State.
He also said that the House was focusing on how the budget could maximally benefit the generality of the people and address the issues of poverty and deprivation.
“I want to assure you, on behalf of all of us, that we will apply our utmost best, within our legislative powers, to give this budget proposals prompt attention,” the speaker said.
“The detailed attention will be given for its transformation into an appropriation bill for the benefit, prosperity, growth and development of Lagos State,” he added.
Said the speaker: As the House of Assembly parleys with the executive to move the state forward, let me reiterate here that there is a great need to also put life in our local councils, so that they can realise the objectives of their existence.
“There are indications that various local government councils and local council development areas could perform better than they do presently, if they are adequately funded and monitored.
“Therefore, our state budget proposals should always be geared towards promoting and actualising unity amongst our people,” Ikuforiji added