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Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget - Politics (2) - Nairaland

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2017 Budget: Nigeria Is In Big Trouble – Minister Of Power, Fashola Says / Lagos Presents Biggest Ever Budget Proposed By A Nigerian State / Ambode Presents N813bn 2017 Appropriation Bill To Lawmakers (2) (3) (4)

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Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by godunia(m): 8:06am On Nov 30, 2016
Lagos, the only country in Nigeria.

5 Likes 1 Share

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:06am On Nov 30, 2016
Not the 'biggest budget' if shed of 'paddings'

Below is the summary of the Lagos State budget for 2011 as presented by the Lagos State Government.

(Full document is available at http://www.lagosbudget.org/pdffiles/352653_Lagos_State_budget[1].pdf)

Recurrent Expenditure N198.18bn
Personnel N68.23bn
Overhead N129.95bn
Capital Expenditure N252.59bn

Total Budget Size N450.77bn

[size=15pt]
The 2016 budget is almost double the 2011 budget!!! Where is the money going to? Which projects warrant such costs? Have new staff been employed in hundreds of thousands?
[/size]


Below is analysis of spending in America's largest cities (note average city budget)
https://ballotpedia.org/Analysis_of_spending_in_America%27s_largest_cities

Abi #SomebodyNeedsToFundANewPoliticalParty?

2 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by abhosts(m): 8:08am On Nov 30, 2016
I remember as a kid when IBB's Total Federal Budget was 25 Billion. Something Really needs to be done about the Naira's Value.

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by timeminister: 8:09am On Nov 30, 2016
kayzat:









I set my goals and objectives in
accordance with my vision. I study them and
strategically execute them. My detractors
discuss my successes and failures because
they have nothing to execute. --- Asiwaju
Bola Ahmed Tinubu
heavenly truth!

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Nobody: 8:14am On Nov 30, 2016
three:
Not the 'biggest budget' if shed of 'paddings'

Below is the summary of the Lagos State budget for 2011 as presented by the Lagos State Government.

(Full document is available at http://www.lagosbudget.org/pdffiles/352653_Lagos_State_budget[1].pdf)

Recurrent Expenditure N198.18bn
Personnel N68.23bn
Overhead N129.95bn
Capital Expenditure N252.59bn

Total Budget Size N450.77bn

[size=15pt]
The 2016 budget is almost double the 2011 budget!!! Where is the money going to? Which projects warrant such costs? Have new staff been employed in hundreds of thousands?
[/size]
Education is important bro... wha was the minimum wage in 2011?

2 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Araoluwa005(m): 8:17am On Nov 30, 2016
OZAOEKPE:
HA! I SEE TINUBU IN THE BUDGET cool
how?
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Bobby4090: 8:18am On Nov 30, 2016
No wonder Buhari can't work with Tinubu. While progressives like Tinubu and Ambode excel in their domain, Buhari who is a conservative with lack of basic ideas keep pulling Nigeria backwards. How can the same party thats transforming Lagos (and multiplying its economy even in this time of recession) be the same party thats now a collosal failure in handling Nigerian economy.
It simply means there are two APC's and they dont work together or exchange ideas.

5 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by shamecurls(m): 8:20am On Nov 30, 2016
And Willie Obiano is still signing different MOU's on daily basis

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:22am On Nov 30, 2016
three:
Not the 'biggest budget' if shed of 'paddings'

Below is the summary of the Lagos State budget for 2011 as presented by the Lagos State Government.

(Full document is available at http://www.lagosbudget.org/pdffiles/352653_Lagos_State_budget[1].pdf)

Recurrent Expenditure N198.18bn
Personnel N68.23bn
Overhead N129.95bn
Capital Expenditure N252.59bn

Total Budget Size N450.77bn

[size=15pt]
The 2016 budget is almost double the 2011 budget!!! Where is the money going to? Which projects warrant such costs? Have new staff been employed in hundreds of thousands?
[/size]

The 2011 budget was $3b (cbn rate) or $2.8b (parallel rate)

The 2017 budget is $2.6b (cbn rate) or $1.7b (parallel rate)

Inflation rate in 2011 was 9%, in 2017, it is projected at 20%

In real term, the budget has shrunk.

12 Likes 2 Shares

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:24am On Nov 30, 2016
tobimillar:

Education is important bro... wha was the minimum wage in 2011?

[size=15pt]N18,000.00 same as today[/size]

abi did you increase it?

education IS REALLY IMPORTANT

http://www.vanguardngr.com/2011/02/senate-approves-n18000-national-minimum-wage/

http://www.premiumtimesng.com/news/top-news/210995-nigerian-govt-evading-minimum-wage-talks-nlc.html
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by HIGHESTPOPORI(m): 8:25am On Nov 30, 2016
shamecurls:
And Willie Obiano is still signing different MOU's on daily basis
Cos Willie Obiano is a technocrat bringing Investments from Abroad to Anambra and maximising its potentials,and not relying on Taxes and Allocations like Lagos as a former Capital
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by TeamSimple(m): 8:25am On Nov 30, 2016
kayzat:









I set my goals and objectives in
accordance with my vision. I study them and
strategically execute them. My detractors
discuss my successes and failures because
they have nothing to execute. --- Asiwaju
Bola Ahmed Tinubu
Did BAT actually said that?
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:26am On Nov 30, 2016
2n2k:


The 2011 budget was $3b (cbn rate) or $2.8b (parallel rate)

The 2017 budget is $2.6b (cbn rate) or $1.7b (parallel rate)

Inflation rate in 2011 was 9%, in 2017, it is projected at 20%

In real term, the budget has shrunk.


This would hold if salaries were paid in dollars, which they aren't and if ALL of the Lagos State's expenditure is made in dollars, which it isn't

2 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by buffalowings: 8:29am On Nov 30, 2016
2n2k:


The 2011 budget was $3b (cbn rate) or $2.8b (parallel rate)

The 2017 budget is $2.6b (cbn rate) or $1.7b (parallel rate)

Inflation rate in 2011 was 9%, in 2017, it is projected at 20%

In real term, the budget has shrunk.

Oops.
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Oyinda32(m): 8:30am On Nov 30, 2016
edoyad:



http://www.premiumtimesng.com/news/top-news/216669-lagos-presents-biggest-ever-budget-proposed-by-a-nigerian-state.html




Give it up to Ambode, a Governor with a Vision.. when the Capital expenditure is way more than the recurrent expenditure, if fully implemented, then Development is non negotiable..


Itesiwaju Eko. Eko o ni Baje ooo
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:30am On Nov 30, 2016
shamecurls:
And Willie Obiano is still signing different MOU's on daily basis

And it is the same Obiano that Nigeria government (that is more informed than you) relies upon to make Nigeria net exporter of rice in 2017.

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by AdultMaleNegro(m): 8:33am On Nov 30, 2016
This is what happens when you have an administrator as Governor. Not a 'politician'
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:40am On Nov 30, 2016
three:



This would hold if salaries were paid in dollars, which they aren't and if ALL of the Lagos State's expenditure is made in dollars, which it isn't

What is the salary component in 2017 budget? Not stated. In 2011 figures you quoted, it was just 15.1% of the budget. Let us factor in subsequent increment in minimum wage introduced by GEJ regime and marginal expansion in government, it may be about 20% of 2017 budget.

Apart from personnel wages which have not been adjusted to reflect the current cost of living, all other costs - capital or overheads (80%) will be at current cost. Expenditure doesn't have to be in dollars to reflect current prices. The importers of the goods would have priced their goods to reflect forex rates. There is no special separate market for government procurements.

The Senate just yesterday dismissed the budget that Buhari want to present because it was based on unrealistic exchange rate of N290/$.

4 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Lyoncrescent: 8:42am On Nov 30, 2016
I am so happy with this budget. I have been living in Ikorodu since 1999 and the investment of past Lagos state Governors fashola and tinubu has been phenomenal. This budget tells me Ikorodu is yet again going to benefit immensely from the 2017 budget. God bless Lagos. If you come Ikorodu my guy, you go love Lagos o. Ikorodu has probably the best brt operation in Lagos.only if the federal government who have done so little in Ikorodu can expand and rehabilitate the laspotech to ogijo to odanguyan to sagamu road then Ikorodu go show them. All we need from private sector is a mall in Ikorodu

5 Likes 1 Share

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by omonnakoda: 8:47am On Nov 30, 2016
three:
Not the 'biggest budget' if shed of 'paddings'

Below is the summary of the Lagos State budget for 2011 as presented by the Lagos State Government.

(Full document is available at http://www.lagosbudget.org/pdffiles/352653_Lagos_State_budget[1].pdf)

Recurrent Expenditure N198.18bn
Personnel N68.23bn
Overhead N129.95bn
Capital Expenditure N252.59bn

Total Budget Size N450.77bn

[size=15pt]
The 2016 budget is almost double the 2011 budget!!! Where is the money going to? Which projects warrant such costs? Have new staff been employed in hundreds of thousands?
[/size]


Below is analysis of spending in America's largest cities (note average city budget)
https://ballotpedia.org/Analysis_of_spending_in_America%27s_largest_cities
You are ignorant ,unruly and proud of it . The Naira has lost nearly 60% of its value ,inflation is in double digits and you are here comparing 2011 and asking silly questions.


Why not compare 1979?



The reality is the budget is shrinking and Lagos State is still servicing dollar denominated debts .Instead of intoxicating yourself with fufu go and get a job

8 Likes 1 Share

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:48am On Nov 30, 2016
Waoh! Food go dey dia naw.
Every hungry Nigerian should move to Lagos oo, before the gate get shut!
I mean that state should accommodate at least 50 million Nigerians, especially all those displaced by the jihadists in North North.
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by CriminalIkedi: 8:50am On Nov 30, 2016
[s]
ificatchmodeh:
Na so!

Implementation and budget delivery..
Na so fash been dey hype him budget too.

Pray Ambo delivers on point..and forget all this noise.
[/s]

Enemy of progress. You are only good at insulting Tinubu and the Yoruba people. You will just die of enviness over nothing.

8 Likes

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by CriminalIkedi: 8:51am On Nov 30, 2016
kayzat:









I set my goals and objectives in
accordance with my vision. I study them and
strategically execute them. My detractors
discuss my successes and failures because
they have nothing to execute. --- Asiwaju
Bola Ahmed Tinubu

Gbam!

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:52am On Nov 30, 2016
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:54am On Nov 30, 2016
Lyoncrescent:
I am so happy with this budget. I have been living in Ikorodu since 1999 and the investment of past Lagos state Governors fashola and tinubu has been phenomenal. This budget tells me Ikorodu is yet again going to benefit immensely from the 2017 budget. God bless Lagos. If you come Ikorodu my guy, you go love Lagos o. Ikorodu has probably the best brt operation in Lagos.only if the federal government who have done so little in Ikorodu can expand and rehabilitate the laspotech to ogijo to odanguyan to sagamu road then Ikorodu go show them. All we need from private sector is a mall in Ikorodu

Waoh! Your state should take some refugees from the North North, I understand the humanitarian crisis there is unbearable, at least children and women.
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by lharstborn(m): 8:58am On Nov 30, 2016
Lyoncrescent:
I am so happy with this budget. I have been living in Ikorodu since 1999 and the investment of past Lagos state Governors fashola and tinubu has been phenomenal. This budget tells me Ikorodu is yet again going to benefit immensely from the 2017 budget. God bless Lagos. If you come Ikorodu my guy, you go love Lagos o. Ikorodu has probably the best brt operation in Lagos.only if the federal government who have done so little in Ikorodu can expand and rehabilitate the laspotech to ogijo to odanguyan to sagamu road then Ikorodu go show them. All we need from private sector is a mall in Ikorodu


I believe JUSTRITE is building a mega shopping mall in Ikorodu..at Ogolonto junction. Watch out for this franchise, they might just blow out Shoprite, SPAR etc out of the water in the coming years. And the ideal part is that it is solely owned by a Nigerian.

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by lharstborn(m): 9:06am On Nov 30, 2016
I believe JUSTRITE is building a mega shopping mall in Ikorodu..at Ogolonto junction. Watch out for this franchise, they might just blow out Shoprite, SPAR etc out of the water in the coming years. And the ideal part is that it is solely owned by a Nigerian.
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by martineverest(m): 9:09am On Nov 30, 2016
tinubu wants tocompensate himself with lagos funds after apc brouhaha
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by omonnakoda: 9:20am On Nov 30, 2016
three:



This would hold if salaries were paid in dollars, which they aren't and if ALL of the Lagos State's expenditure is made in dollars, which it isn't
ALL the expenditure needs to be in dollars? for it to hold? Stop the empty talk and learn some sense.

Lagos state is servicing dollar denominated debt . Even if it were naira denominatedthe debt burden now is not the same as 2011.

This time the capital expenditure is growing and many prices have doubled since 2011.Whether it be cement or any of the other inputs into capital projects and salaries have not been stagnant either. Already the figures prove that recurrent portion of the budget has grown so why not go and search for a job.There will be many labourer positions soon in Lagos State

1 Like

Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by kayzat: 9:27am On Nov 30, 2016
TeamSimple:

Did BAT actually said that?

Here you have it in full.






I SET MY GOALS AND OBJECTIVES IN
ACCORDANCE WITH MY VISION. I
STUDY THEM AND STRATEGICALLY
EXECUTE THEM. MY DETRACTORS
DISCUSS MY SUCCESSES AND FAILURE
BECAUSE THEY HAVE NOTHING TO
EXECUTE. I AM IN THE NEWS MORE
BECAUSE I’M WORKING, NIGERIANS
DISCUSS ACTIVE MEN IN THE FIELD.
MENTIONING ANY NEGATIVE NEWS
ABOUT ME WILL DOUBLE THE WEALTH
OF ANY NEWS MEDIA THAT PUBLISHED
IT. MY NAME TODAY IS A FINANCIAL
MARKET FOR JOURNALIST. NOT EVEN
ELECTED POLITICIANS GET THE
PUBLICITY I AM ENJOYING. MY
COMRADES , GO AND WORK TILL
MENTIONING YOUR NAME BECOMES A
SOURCE OF INCREASED WEALTH FOR
SOMEONE. EVEN MY WEAKNESS CREATE
WEALTH FOR VENDORS”_ —I REMAIN,
ASIWAJU BOLA TINUBU–

1 Like

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