Governor Babatunde Fashola of Lagos State, yesterday, signed a budget estimate of N489.690 billion for 2015 into law, saying focus would be on completion of on-going projects before handing over in May.
Fashola signing the budget bill into law at the Lagos House, Marina, Lagos Island, noted that the budget is an article of faith by government and a sign post for business.
Fashola signing the budget bill into law at the Lagos House, Marina, Lagos Island, noted that the budget is an article of faith by government and a sign post for business.
He explained that the ceremony had to come up on a Sunday because of important National meeting of All Progressives Congress, APC, holding in Abuja today, stressing that there was no basis for delaying implementation of budget due to party affairs.
Fashola said: “When we presented the budget there were financial challenges but as you know our revenue has been based largely on our common contribution.
“We need to be innovative, inventive and hard-working and that is what we have given in the last eight years and we won’t give anything less and with the support of the people of Lagos. They are ownership of this government and all of its service delivery and I think as difficult and challenging as the revenue issue may be we will consolidate and finish as many possible projects as we can.
“We will continue to render services. The truth is that the service demands don’t stop. They continue on an incremental basis. That is why also we need experienced hand to continue this work. This is why it is important not to attempt to experiment with the administration and governance of this very important state not only in Nigeria but also in the sub-region and African continent and indeed globally”.
The budget breakdown shows that Economic Affairs got the lion share of N146.306 billion or 29.9 percent followed by General public Service which got N107.690 billion or 22.0 percent while Education came third with N82.114 billion or 16 percent followed by Housing and Community Amenities which got N49.033 billion or 10.0 percent of the total estimate.
