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Governor, Akinwunmi Ambode, of Lagos State, on Tuesday presented the 2017 budget proposal of N813 billion tagged ” The Golden Jubilee Budget” to the House of Assembly, which is a N150 billion increase to the 2016 budget and also reported to be the biggest budget any Nigerian state has ever made.

The tag of the budget is a reflection of the upcoming 50th Anniversary of the state.

Governor Ambode gave the key components of the budget as follows; recurrent expenditure at N300. 535 billion while N512.464 billion would be dedicated to capital expenditure, representing a Capital/Recurrent ratio of 63 percent to 37 percent.

According to the governor, road construction, rehabilitation and maintenance would be one of the key focuses of the budget, adding that efforts would be geared towards roads that will open up the hinterlands, improve connectivity in the State and reduce travel time.

He listed some of the road projects to include Murtala Mohammed International Airport Road from Oshodi, Agric-Isawo-Owotu-Arepo Road in Ikorodu, Igbe-Igbogbo Phase II- Bola Tinubu Way in Ikorodu, Ijegun Imore Phase II Amuwo in Ojo axis, Oke-Oso-Araga-Poka in Epe, Epe-Poka-Mojoda in the Epe axis and the completion of the Abule-Egba, Ajah and Pen Cinema flyovers.

According to the governor, his administration would enter into a Public Private Partnership (PPP) to execute some road projects. He also disclosed that the Phase II of the 114 Local Government Roads project as well as the construction of the Fourth Mainland Bridge would also kick off in 2017.

“We will fully implement the Medical Health Insurance Scheme and deploy e-Health/ e-insurance Health Service solutions; and complete the on-going upgrading and extension work in the State General Hospitals and Ayinke House in Ikeja. Work will commence on our Medical Park in the 2017 fiscal year,” Mr. Ambode said.

On the revenue expected from federal allocation, the governor  expressed optimism that the state would get an increase in Federal allocation through the 13 percent derivation from Oil and Gas in 2017.

The Commissioner for Finance, Akinyemi Ashade, said the governor earmarked N205.85 billion for General Public Services representing 25.32 percent of the budget, N36.43 billion to Public Order and Safety, representing 4.48 percent, while Economic Affairs received a lion share of N295.84 billion representing 36.39 percent, Environment got N56.31 billion, representing 6.93 percent, Health got N57.29 billion representing 7.05 percent, while Education got N92.4 billion representing 11.37 percent of the budget.

The Commissioner also said the budget would be funded from a total revenue estimate of N642.849billion while the balance of N170.150billion would be funded through a N100bn Bond Issuance program and a combination of internal and external loans.

The governor assured the house that the budget would be judiciously implemented to continue the infrastructural renewal and the enhancement of Lagos as one of the foremost tourism and investment destination in Africa.

Speaker of the House, Mudashiru Obasa, assured the governor that members of the House would give the 2017 fiscal document due diligence for the benefit of Lagosians, and he called on the Ministries Departments and Agencies (MDAs) to furnish the House with all the necessary documents to enable it fast-track the budget approval process.

The Lagos Speaker also seized the occasion to call on the Senate to reconsider the Special Status Bill for Lagos State, saying there was no better time to accord the State such recognition.

 

Written by Okolo Ezinne

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