Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,676 members, 7,955,484 topics. Date: Sunday, 22 September 2024 at 07:18 AM |
Nairaland Forum / Nairaland / General / Politics / Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road (697 Views)
Goodluck Jonathan's House & Parlour In Abuja That Can't Accommodate 10 Persons / Ambode Cancels N844b Lagos 4th Mainland Bridge, Terminates concessionaire / The Proposed 4TH Mainland Bridge & Masterplan In Pictures (2) (3) (4)
Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by billante(m): 6:35pm On Nov 29, 2016 |
[quote]Lagos State Governor, Mr. Akinwunmi Ambode
on Tuesday presented the Year 2017 Budget
proposal of N813billion to the House of
Assembly, assuring that the budget would be
judiciously implemented to continue the massive
infrastructural renewal and the enhancement of
Lagos as one of the foremost tourism and
investment destination in Africa.
The Governor, who christened the 2017 budget as
“The Golden Jubilee Budget” as it coincides with
the State’s 50th Anniversary, said it would focus
on physical infrastructure, while social sectors
especially health, education, youth and social
development would get adequate attention.
Giving the key components of budget, Governor
Ambode said recurrent expenditure would gulp
N300.535billion while N512.464billion would be
dedicated to capital expenditure, representing a
Capital/Recurrent ratio of 63 percent to 37
percent.
According to the Governor, road construction,
rehabilitation and maintenance would be one of
the key focuses of the budget, adding that efforts
would be geared towards roads that will open up
the hinterlands, improve connectivity in the State
and reduce travel time.
He listed some of the road projects to include
Murtala Mohammed International Airport Road
from Oshodi, Agric-Isawo-Owotu-Arepo Road in
Ikorodu, Igbe-Igbogbo Phase II- Bola Tinubu Way
in Ikorodu, Ijegun Imore Phase II Amuwo in Ojo
axis, Oke-Oso-Araga-Poka in Epe, Epe-Poka-
Mojoda in the Epe axis and the completion of the
Abule-Egba, Ajah and Pen Cinema flyovers.
The Governor also said that within the course of
the budget implementation, his administration
would enter into a Public Private Partnership
(PPP) to execute some road projects including
Oke Oso-Itoikin dualisation Project in the Epe
axis, Okokomaiko-Seme Road Project in Badagry
axis and Ikorodu-Agbowa-Itoikin-Ijebu Ode Road
Project in Ikorodu axis, just as he disclosed that
the Phase II of the 114 Local Government Roads
project as well as the construction of the Fourth
Mainland Bridge would also kick off in 2017.
“In the course of the 2017 Financial Year, we
shall carry out fundamental reforms on all our
modes of transportation – Roads, Water and the
Walkways. In this wise, a Public Transport
Infrastructure Bond will be issued in the course
of the year.
“The State Government will embark on the
Urbanisation of the Marina axis, Waterways
Channelization, establishment of more Parks and
Gardens as well as the Community Sports
Centres and Stadiums in different locations
across the State.
“We will fully implement the Medical Health
Insurance Scheme and deploy e-Health/ e-
insurance Health Service solutions; and complete
the on-going upgrading and extension work in the
State General Hospitals and Ayinke House in
Ikeja. Work will commence on our Medical Park
in the 2017 fiscal year,” Governor Ambode said.
On the revenue expected from federal Allocation,
the Governor said a conservative approach was
taken owing to the falling oil prices, which
according to him, was about $41.98per barrel at
the time of finalising the budget.
He however expressed optimism that the State
would get an increase in Federal allocation
through the 13 percent derivation from Oil & Gas
in 2017.
“In view of our financing gap, we shall continue to
sustain deficit financing in the short-to-medium
term; enhance revenue growth throughout the year
on several initiatives including automation and
efficient revenue administration.
Giving a sectoral breakdown of the 2017 Budget
Estimates, Commissioner for Finance, Mr.
Akinyemi Ashade said the Governor earmarked
N205.85billion for General Public Services
representing 25.32 percent of the budget,
N36.43billion to Public Order and Safety,
representing 4.48 percent, while Economic Affairs
received a lion share of N295.84billion
representing 36.39 percent.
In other sectors, Ashade told journalists at the
Bagauda Kaltho Press Centre in Alausa
Secretariat that Environment got 56.31billion,
representing 6.93 percent, Health got
57.29billion representing 7.05 percent, while
Education got N92.4billion representing 11.37
percent of the budget.
The Commissioner said the Budget would be
funded from a total revenue estimate of
N642.849billion while the balance of
N170.150billion would be funded through a
N100bn Bond Issuance program and a
combination of internal and external loans.
Receiving the Budget, Speaker of the House, Rt
Hon. Mudashiru Obasa, commended the Governor
for keeping faith with the 2016 budget in the area
of implementation, adding that Lagos has
witnessed a quantum leap in the last one year.
Obasa, while assuring the Governor that members
of the House would give the 2017 fiscal
document due diligence for the benefit of
Lagosians, called on the Ministries Departments
and Agencies (MDAs) to furnish the House with
all the necessary documents to enable it fast-
track the budget approval process.
The Lagos Speaker also seized the occasion to
call on the Senate to reconsider the Special
Status Bill for Lagos State, saying there was no
better time to accord the State such recognition.
Dignitaries present at the event include former
speakers of the House of Assembly including
party chieftains, members of the State Executive
Council, traditional rulers, religious leaders,
among others./[quote] |
Re: Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by billante(m): 6:36pm On Nov 29, 2016 |
ok |
Re: Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by Jafar1: 6:39pm On Nov 29, 2016 |
best governor in nigeria for now, the rest are there for eat and clean mouth |
Re: Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by TippyTop(m): 6:58pm On Nov 29, 2016 |
After constructing it expect Mr Yellow Teeth Tinubu to install toll gate and fleece Lagosians. It's shameful that fatboy Ambode can't stand up to The Tiff. 1 Like 1 Share |
Re: Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by jahsharon: 7:09pm On Nov 29, 2016 |
TippyTop: This is for the children of hate from the land of the falling sun. Land of kidnapping, drug pushing, human trafficking, prosti-tution, baby factory. Show us what your useless governors have done. 5 Likes
|
Re: Ambode’s 2017 Budget To Accommodate 4th Mainland Bridge, Lagos Airport Road by TippyTop(m): 7:11pm On Nov 29, 2016 |
[s] jahsharon:[/s] E pain am |
(1) (Reply)
Gen.abacha's Speech After Coup / PHOTOS: Aminu Tambuwal, Bagudu And Atiku In Kebbi State For A Book Lunch / The Hidden Truth About Nigeria Current State @ Copied
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 23 |