Lagos State Governor, Akinwunmi Ambode Presents 2017 Budget to the Chamber of
The Lagos State House Of Assembly, Alausa, Ikeja.
''at the commencement
of this administration, we began a journey with the people of Lagos with a
promise to make the State work for all. We undertook this journey with great
hope for tomorrow. We set forth not alone, but with the Almighty who has been
faithful and very generous to us as a State in spite of the present economic
situation we have found ourselves as a Nation''.
''On behalf of all the people of
Lagos State, I wish to commend the Honourable Speaker and all Honourable
members of this hallowed chamber for their unrelenting strides in growing and
developing the economy of the State and being worthy ambassadors of our people'', the Governor Says.
He further stated that, ''the Year 2016 budget of N662.588bn was approved and signed into Law on January
4th, 2016 to focus on the expectations and priorities of our people. As at the
end of October, 2016, the overall performance of the budgetwas 71%. Total
revenue stood at N350bn/77.5% while Capital Expenditure closed at N200bn/62% and
the Recurrent Expenditure performed at N180bn/82%''.
''As you are all well aware,
we shall continue to render our performance/activities through in our Quarterly
Town Hall Meetings in which the last Three meetings showcased all our
activities in all sectors. It is my strong belief that by the end of this year;
there would have been more improvements in the performance indices due to our
strong investment in infrastructure. It is worthy to note also that the reforms
and restructuring in the Public Service have continued to yield positive and
encouraging results as we continue to invest the resultant savings in other
economic sectors of the State''.
Mr. Speaker, Honorable Members, Distinguished
Ladies and Gentlemen, The People's budget of 2016 has positively impacted the
lives of Lagosians and I am confident that the year 2017 budget will
consolidate on our modest achievements and propel our State to enviable
heights. The Year 2017 Budget will be in effect at an auspicious time when our
State will be celebrating its Golden Jubilee Anniversary.
The proposed budget
with a size of N812.998 billion will continue the massive renewal of our
infrastructure and the enhancement of Lagos as one of the foremost tourism and
investment destination in Africa. While we focus on physical infrastructure, we
shall continue to pay due attention to social infrastructure especially health,
education, youth and social development in 2017. The key components of “The
Golden Jubilee Budget”are: Budget Size – N813bn Recurrent Expenditure –
N300.535bn Capital Expenditure – N512.464bn Capital/Recurrent ratio – 63:37. The Governor stated
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