Lagos
State Governor, Mr. Babatunde Fashola (SAN), Wednesday presented to the State
House of Assembly for approval a total Budget Estimate of N489. 690 billion for
the 2014 financial year saying the focus would be to complete on-going projects
and consolidate on the gains of the past budgets.
The
amount, which is about N7.587 billion short of the 2013 Estimate, as is
traditional with the Governor Fashola administration, prioritizes Capital over
Recurrent Expenditure with Economic Affairs, General Public Service and
Education taking the lion share.
According
to details of the Budget presented in the Chambers of the new House of
Assembly, Capital Expenditure took N255.025 billion while Recurrent Expenditure
got N234.665 which represents a Capital to Recurrent Expenditure ratio of 52:48
as against 58:42 ratio for 2013.
In
sectoral allocation, according to the Budget details, Economic Affairs got the
lion share with N160,046,436,169 or 32.68 percent followed by General Public
Service which got N100,215,966,990 or 20.47 percent while Education with
N77,423,827,872, representing 15.81percent of the Budget Estimate, came third.
Other sectors of the economy that got priorities
include Housing and Community Amenities N50,537,201,984 billion or 10.32
percent, Environmental Protection N39,727,711,248 or 8.11
percent, Health N37,812,553,057
or 7.72 percent, Public Order & Safety
N17,977,368,027 or 3.67 percent, Recreation,
Culture & Religion N3,482,081,806 or 0.71 and Social Protection which brought up the
rear with N2,466,309,939 representing 0.50 percent of the Budget.
Governor
Fashola said the amount allocated to Economic Affairs would be deployed towards
the implementation of various IPP projects, development of Enterprise Zone in
Gberigbe, Ikorodu and Upgrading of Yaba Industrial Park as well as advancement
of the 10-Lane Lagos-Badagry Expressway / Blue Rail Line Corridor, completion
of other on-going Road Construction Projects and pedestrian bridges and
implementation of the Agric-YES, Accelerated Food Expansion Program: Rice,
Animal Husbandry, Root and Cash Crops
For
General Public Service, the Governor said the
allocation would go for settlement of Pensions, implementation of the on-going
Residents Registration exercise and issuance of permanent residents’ card and
the implementation of Public Procedure Law while allocation to Education will
be utilized to improve Science and ICT facilities in Public Schools as well as
pursue improvement of Science and continuous rehabilitation/upgrading of Public
School buildings and facilities.
The
N50,537,201,984 billion allocated to Housing and Community Amenities would be deployed towards
implementation of the Lagos Home Ownership Mortgage Scheme (H.O.M.S),
rehabilitation of small scale rural water schemes /implementation of rural
electrification projects, provision of rural roads, electronic Certificate of
Occupancy project and upgrading of slum areas, the Governor said.
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