Lagos budgets N813 billion for 2017
Fourth Mainland Bridge, road projects top list
Lagos State Governor, Akinwunmi Ambode, says 63 per cent of the state’s N812.98 billion jubilee appropriation for 2017 would cater for capital projects.
He spoke yesterday in Ikeja while presenting the budget, which is N150 billion higher than that of 2016, to the state’s House of Assembly.
According to him, the Fourth Mainland Bridge, Oshodi-MM2 and Ijegun-Imore roads are to be financed from the budget just as three ongoing flyover bridges are to be completed too.
The governor said that while N300 billion goes for recurrent expenditure, N512.98 billion has been earmarked for capital projects.
Ambode said that the 2017 budget would be a consolidation of the state’s 2016 N662 billion budget, believing that it would take Lagos to enviable heights in the area of physical and infrastructure renewal.
According to the governor, while his administration focuses on physical infrastructure, it, would, however, not neglect social amenities.
The governor said that the document was prepared in realisation that a conservative approach must be employed towards the revenue accruable to the state from the federal account, just as he noted that the 13 per cent derivation would boost the state’s revenue.
Ambode said his administration hoped to explore more collaboration with foreign and local partners in key areas like health and transport.
He promised that government would continue to ease doing of business in the state aside from encouraging investors through policies and programmes that guarantee security and safety of their investments.
The governor sought cooperation of residents by supporting the current administration through prompt payment of taxes and levies.
The Speaker of the state’s State House of Assembly, Mudashiru Obasa, lauded the government for being creative and innovative in the midst of the prevailing economic downturn in the country.
He promised the legislature’s cooperation for the robust development of the state as well as the quick passage of the appropriation bill.