The Lagos state House of Assembly has commenced work in earnest on the state 2017 budget presented to it by Governor Akinwumi Ambode last Tuesday, November 29.
The governor had presented a budget estimate of N812. 998 billion to the state assembly for the 2017 fiscal year for its consideration and approval.
The House, after it’s plenary on Thursday, December 1 adjourned till December 27 to allow all relevant committees of the House to immediately resume work at scrutinizing the budget and to complete the exercise in a record time.
The Speaker of the House, Hon. Mudashiru Obasa, had assured Lagosians during the budget presentation exercise that the House would immediately resume work on the presentation and look at the nitty-gritty of the budget estimates to ensure that the budget delivers it’s desired good through oversight function.
He however, charged all Ministries, Departments and Agencies (MDAs) to furnish the House with all necessary documents to aid the quick passage of the budget.
Governor Ambode while presenting the budget titled; the “Golden Jubilee Budget” as it coincided with the 50th anniversary of the State said the capital expenditure stands at N512 billion while the recurrent expenditure is put at N300 billion, a ratio of 63.37 percent.
Ambode had assured Lagosians that the 2017 budget will continue the mass renewal of infrastructure and enhancement of the state as one of the foremost tourism and investment destination in Africa.
“While we focus on physical infrastructure, we shall continue to pay due attention to social infrastructure, especially, health, education, Youth and social development in 2017,” the Governor stated.
Ambode also disclosed that the State expect to shore up its revenue from the federal allocation through the 13 percent derivation from oil and gas in 2017 which according to the Governor, will further boost the revenue profile of the state.
Disclosing further on what to expect in the coming year in the area of food security, the Governor promised to accelerate the food expansion programme with a special focus on rice production, animal husbandry and root crops while the State, according to him, will intensify collaboration with other States in the development of a commodity value chain specifically for food commodities.
The Governor further promised to invest more to boost fish production in the State by improving the production capacity of Ayobo fish farm estate in Alimosho area, all these, in addition to providing employment opportunities for the youth.
The Speaker of the state assembly, Hon. Mudashiru Obasa, in his remarks at the presentation, commended the governor for the successful implementation of the 2016 budget, while stressing the supportive role played by the Assembly in the enviable performance of the Governor in the outgoing year.
Obasa commended the governor for its determination to develop the state despite the dwindling revenue. The Speaker further commended the governor on the road infrastructure, transportation, light up Lagos project and other developments.
The Speaker however, assured that the House would continue to support the executive to bring more development to Lagosians.
The 2017 budget size is N150.4bn or 18.5 percent above that of 2016 which stood at N662.58 billion.