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Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 (9857 Views)

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Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Ajibel(m): 1:18pm On Nov 08
With a proposed fiscal plan of N115 billion for public infrastructure, Lagos State, next year, will be a massive construction site.

Governor Babajide Sanwo-Olu, on Friday, presented the Year 2020 Budget proposal to the House of Assembly, unveiling his administration’s plan to accelerate the growth of State’s economy by proposing aggressive investments in critical areas of priorities – physical infrastructure, environment, human capital and security.

Sanwo-Olu announced that the State would be spending N1.168 trillion, which will be funded from a projected Internally Generated Revenue (IGR) of N1.071 trillion. The budget deficit, put at N97.53 billion, will be financed through internal and external loans, the Governor said.

Besides, the fiscal proposal also included a provision for the new minimum wage.

Giving a breakdown of the budget tagged “Awakening to a Greater Lagos”, Sanwo-Olu earmarked 62 per cent, representing N723.75 billion of total spending, for capital expenditure. He said recurrent expenditure, put at 38 per cent, will take N444.81 billion.

About N167.81 billion of the recurrent expenditure will go for personnel costs and other staff-related expenses, representing 22.02 per cent of the total revenue. This, the Governor noted, is within the acceptable wage policy, which benchmarks 25 per cent staff overheads in the budget.

Sanwo-Olu said the proposed budget would help the State achieve a sustainable social investment and scale up private sector-led economic growth through investment in infrastructure and security. He said it would also improve civic engagement in governance and foster partnership with the Federal Government and the civil society.

Explaining why his administration will be earmarking huge funds to the environment and public infrastructure, the Governor said Lagos had been facing combined threats from population explosion and climate change.

He said: “Lagos faces an existential threat, arising from the interplay of demographic and climate change. Lagos will continue to be a magnet for multitudes within and outside Nigeria, in search of jobs and economic prosperity. These levels of migration put phenomenal strain on the physical and fiscal resources of the state.

“This budget seeks to aggressively invest in and develop our education, health and other physical infrastructure sectors. As at September 2019, our capital expenditure on works and infrastructure was just N31 billion, which is less compared with N78 billion proposed in the current year. It is our intention to spend N115 billion on physical infrastructure in 2020.

“In response to the perennial challenges of flooding in the metropolis, we have to triple the capital budget provision to tackle this observed problems from N3 billion in 2019 to N9 billion in 2020. We are embarking on massive desilting of major drain systems across the State next year.”

Sanwo-Olu plans to spend N48 billion on education and technology. This represents 60 per cent rise in capital allocation to the Ministry of Education. On healthcare, the State plans to spend N33 billion on healthcare programmes, which include proposed revamping and re-equipping over 350 Primary Health Centres.

Sanwo-Olu described the proposed budget as “unique”, noting that its details reflected the wishes of residents, following series of consultations and feedback from stakeholders across senatorial districts.

The Governor assured residents of transparency and accountability in the implementation of the budget, pointing out that there would be strict performance mechanism to drive compliance and measure the progress of the budget at the execution stage.

He said: “The 2020 Budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years. This is in line with our commitment to transparency and accountability in the management of public finances.

“We have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1 billion this year, to provide for industrial hubs, parks, graduate internship programs and virtual markets for artisans. This is in support for Micro, Small and Medium Enterprises (MSMEs) which are the engines for both economic and employment growth.”

Reviewing the performance of 2019 Appropriation Bill, which he signed into law in June shortly after he assumed office, Sanwo-Olu said his Government embarked on strict implementation of the budget and achieved 69 per cent efficiency at the end of September.

He said his administration completed critical projects that directly impacted residents, including two Maternal and Child Care Centers (MCCs) in Eti-Osa and Alimosho areas, and 492-flat Lateef Jakande Housing Estate in Igando.

The Governor said several other capital projects captured in the 2019 budget, including 31 arterial roads in Ojokoro/Ijaiye area, a High Court and Magistrates Court complex in Eti-Osa Local Government Area, and a Police Command Complex in Ojo Local Government Area, will be completed.

Sanwo-Olu observed that the approved re-ordering of the 2019 budget by the legislature gave the Government an opportunity to raise N250 billion in addressing critical infrastructure needs, including rehabilitation of public schools, ongoing construction of Lagos–Badagry Expressway, Agege–Pen Cinema Overhead Bridge, Agric–Isawo Road, Bola Ahmed Tinubu–Igbogbo Road, and an ongoing road rehabilitation by Lagos Public Works.

He added that the loan will also enable his administration to start the desilting of drain systems, provision of security and emergency hardware, light rail infrastructure, and construction of a General Hospital in Ojo, which is to be fitted with a Spinal and Neurology Unit.

Sanwo-Olu reiterated that his administration’s development agenda, known as Project T.H.E.M.E.S, was designed to address major challenges facing the State and create a city that would work for the citizens. He said his administration was ready to transform Lagos by rethinking projects that will improve the wellbeing of the residents.

The House of Assembly chamber was filled to the brim, as a large crowd of Lagos residents, comprising leaders and members of the ruling All Progressives Congress (APC), State Executive Council members, traditional rulers, workers, traders, artisans, students and stakeholders in the private sector, witnessed the budget presentation.

Source: http://tosinadeda.com/education-healthcare-top-lagos-n1-1-trillion-2020-budget/

4 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by rexwalters: 1:36pm On Nov 08
Lagos is number 1, 2022 Lagos budget, to finance Jagaban for President, Eko oni baje.

31 Likes 1 Share

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Ajibel(m): 1:46pm On Nov 08
rexwalters:
Lagos is number 1, 2022 Lagos budget, to finance Jagaban for President, Eko oni baje.

Everything shouldn't be linked with Jagaban. It's petty tbh

30 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Flexherbal(m): 1:48pm On Nov 08
May it be use to serve the people and not to be shared or embezzled by politicians.

3 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by pickatyou: 1:48pm On Nov 08
No wonder tinubu was smiling today at his meeting.
Imagine bullion vans from Lagos and osun state

44 Likes 2 Shares

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Emmacula8(m): 1:48pm On Nov 08
No be today, dem knw wia d money they enter

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by gaetano: 1:49pm On Nov 08
Tinubu's money. If you look sanwo-olu back, you will see puppet strings grin. Tinubu na sasori grin

23 Likes 1 Share

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by jibrinidris836(m): 1:49pm On Nov 08
That is a large sum of money

1 Like

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Hoodbilonia: 1:49pm On Nov 08
Yet no changes would come
Abegi

4 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by oluwamile(m): 1:50pm On Nov 08
.Lagos is just too good,how will u drop a budget of 1.2 trillion and ur financing about 98% of the budget from internally generated revenue,sanwolu I wish u the best

15 Likes 3 Shares

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Monaco2(m): 1:50pm On Nov 08
Hmmm money
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by wwwihy: 1:50pm On Nov 08
Good one, for greater Lagos
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by ArmaniUhuru: 1:50pm On Nov 08
More bullion vans loading.........

10 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by NaijaRoyalty: 1:50pm On Nov 08
This one just want to steal the whole of Lagos money

3 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Monogamy: 1:50pm On Nov 08
Trillions?

Se eko o Ti n babe bayi?

3 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by donprinyo: 1:50pm On Nov 08
Tinubu for president don get head

1 Like

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by johndoexxx: 1:51pm On Nov 08
They have already planned to tax Igbos to the grave to fund this budget

13 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by ProudlyNGN: 1:51pm On Nov 08
Na only Lagos be state for Nigeria... Somebody need to Sangolo this man with Slap. Only you wan collect trillion

4 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by efembaba(m): 1:51pm On Nov 08
What's Nigeria's budget again...

4 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Femich18(m): 1:52pm On Nov 08
Ok
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by opalu: 1:56pm On Nov 08
They said Sanwoolu means Give Money to King. Is it true? I am just asking sincerely

3 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Lyoncrescent: 1:56pm On Nov 08
sd
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by thoollz: 1:56pm On Nov 08
Money that will be used to mobilize thugs for the stinking old a*ss wipe major shareholder in Lagos. 2023 plan is going to be executed with that money.

2 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by bluecircle470: 1:58pm On Nov 08
rexwalters:
Lagos is number 1, 2022 Lagos budget, to finance Jagaban for President, Eko oni baje.

Get matured

1 Like 1 Share

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by neweraomo: 2:00pm On Nov 08
O poor
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by MobilityExpress: 2:01pm On Nov 08
I wish Governor Sanwo Olu a successful implementation that will make Lagos better than he met it. Lagos must progress whether the enemies of Lagos like it or not cheesy. All they know how to do is screaming bullion van, Tinubu this, Tinubu that without any positive contribution or constructive criticism.

6 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by hybridblood07: 2:01pm On Nov 08
If the budget includes fixing the bad roads in the whole Lagos state then I have no issue.

4 Likes

Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by Nickymichy(m): 2:01pm On Nov 08
Ds money plenty ooo...I pray it will not be syphoned..... Owo yi pooo
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by CaptainMitch: 2:02pm On Nov 08
How much be Jagaban budget?
Re: Sanwo-Olu Presents Lagos State Budget Proposal Of 1.168 Trillion Naira for 2020 by ChiefSweetus: 2:02pm On Nov 08
1 trillion IGR??

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