Ambode signs 2018 appropriation bill into law
• Make budget details public, stakeholders tell governor
The Lagos State Governor, Akinwunmi Ambode, has signed the 2018 appropriation bill into law.
The total budget size is N1, 046,121,181,680.00. Out of the amount, N347, 038, 938, 872.00, would be funded from the consolidated revenue fund, while development fund, for both capital and recurrent expenditure, would fund N699, 082, and 242,808.00 would be funded from the development fund, for both capital and recurrent expenditure.
The Commissioner for Economic Planning and Budget, Mr. Olusegun Banjo, said capital expenditure would gulp N699.082billion, while N347.039billion would be dedicated to recurrent expenditure.
This represents a capital/recurrent ratio of 67 per cent to 33 per cent, and a 28.67 per cent increase over the 2017 budget.
The Commissioner for Finance, Mr. Akinyemi Ashade, also disclosed that N897billion was projected as the internally generated revenue (IGR) for the year. He said deficit financing would fund the remaining part of the budget.
A sectorial breakdown of the budget shows that N171, 623billion, representing 16.41 per cent, was earmarked for General Public Services.
Public Order and Safety got N46.612billion, representing 4.46, while Economic Affairs received N473, 866billion, which represents 45.30 per cent.
Environmental Protection got N54, 582billion, representing 5.22 per cent, while Housing and Community Amenities got N59, 904bn, which represents 5.73 per cent.
Also, the Health sector got N92.676billion, representing 8.86 per cent, Recreation, Culture and Religion, N12.511billion, representing 1.20 per cent, and Education, N126.302billion representing 12.07 per cent.
N8.042billion, representing 0.77 per cent was budgeted for Social Protection.
Meanwhile, some stakeholders have urged Ambode to publish details of the budget.
Among the concerned groups are the Media Right Agenda (MRA), and Coalition Against Corrupt Leaders (CACOL).
According to the MRA’s Programme Director, Mr. Ayo Longe, doing so would make residents to know the budget for each sector and also monitor the implementation.
According to the groups, previous efforts to make the governor to provide such details under the Freedom of Information Acts (FOI) had been unsuccessful.
Longe added: “Public awareness of the details would ensure that the projects are carried out to specifications.”
He said it would also enable the residents to be part of the process of its implementation and deepen the country’s democracy, adding: “One of the principles of democracy is popular participation, and without access to budget details, people cannot participate in governance.”
No comments yet