…Earmarks 54% To Capital Expenditure, 46% For Recurrent
…Targets N775.2bn IGR, To Complete Major Ongoing Projects

Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented the year 2019 budget proposal of N852.316billion to the House of Assembly, with a pledge that it had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the State.

The Governor said N462.757billion representing 54 percent of the total budget size had been earmarked for capital expenditure, while N389.560billion representing 46 percent had been dedicated to recurrent expenditure, saying that key projects such as the Oshodi-Murtala Mohammed International Airport Road and Oshodi Interchange Terminal, among others would be completed.

He said from inception of his administration, nine key areas were given priority after careful assessment of the needs of the citizens, adding that such had informed the massive investment in the said sectors which he listed to include security, transport / traffic management, economy -including tourism and agriculture, housing, education, health, infrastructure - social and physical, water, wealth creation - skill acquisition/microfinance, e-Governance and enhanced capacity building, sustainable environment and smart city projects.

Giving details of what informed the budget size, Governor Ambode said the performance of Y2018 budget of N1.046trn as at November 2018 stood at 60 percent owing to reduction in revenue projections, while the total revenue stood at N530.192billion.

According to him, “In the outgoing year, however, we experienced a reduction in our revenue projections, which affected our projected performance and our desired implementation of the Y2018 Budget. The overall Budget performance as at November 2018 stood at 60 per cent/N574,206billion with actual cumulative total revenue of N530,192billion/64 per cent, Capital Expenditure closed at N311,930billion/49 per cent and Recurrent Expenditure performed at N262,276billion/82 per cent.

“In preparing the Year 2019 Budget, therefore, we were very mindful of the out-going year performance, the yearnings of our people and the fact that we are going into an election year. Consequently, we are today presenting a Budget that will be all-encompassing, reflect the level of resources that will be available and with special consideration to the completion of major on-going projects in the State.”

While outlining the key components of the Y2019 budget and the sectoral allocations, the Governor said with priority given to completion of major infrastructure projects and smooth transition to the next administration, the government was proposing a total budget size of ‘N852,316,936,483,’ including a deficit financing of N77.086billion which is expected to be sourced from internal loans and other sources.

He added: “The projected total revenue for Year 2019 is ₦775.231billion, of which₦606.291billion is expected to be generated internally, ₦168.940billion is expected from Federal Transfers while a total of ₦77.086billion will be sourced through deficit financing within our medium term expenditure framework.

“In 2019, as was with our previous budgets, Economic Affairs still dominates the sectoral allocation of the proposed budget. This is due to our continued focus on the completion of major on-going projects such as: Oshodi-Murtala Mohammed International Airport Road; Agege Pen Cinema Flyover; Phase II of Aradagun-Iworo -Epeme Road, Oshodi Interchange Terminal; completion of JK Randle Complex, Onikan Stadium; Imota Rice Mill; Renovation/Furnishing of Lagos Revenue House, amongst others in order to meet their specified deliverable outcomes without any bias or prejudice to others.”

Expressing optimism that the revenues of the State would improve in 2019, Governor Ambode said the government had begun consolidating on the already established public financial management and technology-driven revenue reforms through data integration and use of multi-payment channels, just as he said that every strata of the society would benefit from the budget.

“The Year 2019 Budget has been carefully planned to accommodate all and sundry; women, youth and physically challenged, young and old. We will continue to spread development to all part of our state even as we embark on effective transition knowing fully well that the implementation, failure or success of the Budget depend on all of us,” he said.

Besides, Governor Ambode commended the Speaker and members of the Assembly for the support accorded his administration in the last three and half years, while also acknowledging the role of Royal Fathers, Religious leaders, members of the Business Community, Professional Bodies, Development Partners, Non-Governmental Organisations, public servants and all residents as well as members of the fourth estate of the realm for their various support and contribution during the lifespan of his administration.

In his remarks, Speaker of the House, Rt. Hon Mudashiru Obasa expressed optimism that the budget would be of great benefit to the people of the State, just as he assured that the House would work with the executive to pass the budget.

http://trixxng.com/ambode-presents-n852-316bn-y2019-budget-to-house-of-assembly/

Pot bellied Fraudsters..
Half the amount is for Teenubu.

Hope you remember to include special budget for Lagosians daddy and mummy plus their company, Alpha Beta. If not, these same lawmakers smiling at you will impeach you oooo

30% of that money will end up in Tinubu's akkant.

That is the reason he sent his boys at the State Assembly to browbeat & threaten Ambode into submission - with impeachment.

I have never seen a man so greedy & ugly in & out.

Jimi Agbaje, I have anointed you to take over the reins of power in Lagos State.

Oshe baddest

Na so



Toke where is Lagos State fund??

I Wonder why a mega city would allow just one man rule over the govt and the people.
I live in Lagos State and Ambode have done very very well but because he is an Accountant, he stopped all fraud which is the reason they want to bring him dowm.
Lagosians, be ready, FREEDORM IS COMING

Na only Desmond Elliot i dey see for this photo sha

congrats Lagos,I guess?

Ahhhhhh

I so much hate this Ambode, he is a weakling.... Imagine how a sitting governor is made so irrelevant and tossed around, you can't do it to Wake or any other reasonable politician, Ambode shame on u

Something he should have done since... But em agidi no go allow am....

Sha dey Park ur load small small

Sharing time for Lagos state landlord and his horde of leeches.

Lagos state redemption is near.

@ last.Let peace reign.

sheedy407:
Na only Desmond Elliot i dey see for this photo

you're seeing double

Eeyah



Going going.......

Smh

[s]

sukerefakere:
Pot bellied Fraudsters..
Half the amount is for Teenubu.

[/s]
Ipob yuut, you should be more concerned with your state budget instead of killing yourself on lagos matter which is a London to you.

Zoharariel:
H

take it easy o

Budget presented on the directives from Tinubu

Eko oni baje o ... awon toma baje lagoon ni won ma ku si

is dat desmond idiot am seing ?

I used to like Tinubu until he bleeped Ambode up...... Ambode really tried in Lagos. And Ambode is just so Fucking weak. I'd rather go down fighting than going down like a p***y

At last his last budget presentation of his administration. See all with their fake smiles. I sight Peperito.

Who is that tallest man standing at the front? Is he a lawmaker too?