Lagos, the former capital of Nigeria is the country’s commercial nerve centre. The News Agency of Nigeria (NAN) reports that the budget was about N8 billion less than the 2013 estimates of N497.27 billion.
NAN further reports that the budget is comprised of a proposed capital expenditure of N225.02 billion and a recurrent figure of N234. 67 billion.
Its capital to recurrent ratio is 58:42 for the year 2014, as against 52:48 in 2013.
The sectoral allocations of the budget in size and percentage terms would be General Public Service N100, 215 billion, which amounts to 20.47 per cent, as against N966, 99 billion for 2013.
Public Order and Safety has N17.97 billion at 3.6 per cent, compared with the N368.03 billion provided for in 2013.
Economic Affairs with N160.05 billion recorded 32.68 per cent, as against N436.17 billion in the 2013 budget.
Environmental Protection was reduced to N39.73 billion, with 8.11 per cent, compared with N44.13 billion in the 2013 financial year.
Others include: Housing and Community Amenities N50.54 billion, amounting to 10.32 per cent, from N46.15 billion in 2013.
The Health sector got N37.81 billion, with 7.72 per cent, compared with N42. 5 billion in 2013.
Also, recreation, culture and religion had N3.48 billion representing 0.71 per cent, as against N5.75 billion in 2013.
A total of N77.42 billion was earmarked for education, which amounted to 15.81 per cent, from N64.34 billion in 2013.
Social Protection has N2.47 billion, representing 0.50 per cent lower than N3. 2 billion in 2013.
“Let me start by saying emphatically that budget implementation in Lagos is no longer a matter of capacity, as we have a highly resourceful and well-motivated work force in the public service.
“The budget is constrained by the limitation of financial resources. As our population continues to grow, the provision that we require to support them and meet their expectation are also growing.
“Regrettably, the financial resources are not growing at the rate of our people’s expectation.
“In order to sustain this progress, we therefore propose a budget of N489.690 billion for the year 2014, “ Fashola said.
Adeyemi Ikuforiji, the Speaker of the House, said that the presentation of the budget by the governor before the House was a constitutional matter.
Ikuforiji said that adherence to the counsel has been the Assembly’s watchword in dealing with the executive arm of government in the budgetary process of Lagos State.
He also said that the House was focusing on how the budget could maximally benefit the generality of the people and address the issues of poverty and deprivation.
“I want to assure you, on behalf of all of us, that we will apply our utmost best, within our legislative powers, to give this budget proposals prompt attention.
“The detailed attention will be given for its transformation into an appropriation bill for the benefit, prosperity, growth and development of Lagos State.
“As the House of Assembly parleys with the executive to move the state forward, let me reiterate here that there is a great need to also put life in our local councils, so that they can realise the objectives of their existence.
“There are indications that various local government councils and local council development areas could perform better than they do presently, if they are adequately funded and monitored.
“Therefore, our state budget proposals should always be geared towards promoting and actualising unity amongst our people, “ Ikuforiji added.
Culled from Business Day
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