Drama as Ambode presents N852.3bn budget

OrderPaperToday – The Lagos State House of Assembly on Tuesday witnessed a mild drama show as Governor Akinwunmi Ambode finally presented the 2019 budget to the lawmakers.

The event, which was expected to start at 9.00am, did not however begin until some minutes past 2pm.
The Speaker, Mudashiru Obasa, asked the clerk if there was any message from the governor to which he responded “no” but as the House was about to begin the day’s proceedings, the sergeant-at-arms signaled that the governor was around.
The Majority Leader of the House, Sanai Agunbiade, therefore, moved a motion in order to activate the Assembly’s order 144 to allow the governor to participate in the proceedings.
Governor Ambode while presenting a budget sum of N852.316bn before the Assembly, said the budget was planned to give Lagos residents a new lease of life.
He said “from the inception of this administration, we’ve focused on security, transport, traffic management, housing, health, wealth creation, economic, infrastructure, among others.
“However, we experienced a reduction in our revenue projections, which affected our projected performance and our desired implementation of the 2018 budget. The overall budget performance as of November 2018 stood at 60 per cent, which was N574,206bn, with a cumulative total revenue of N530,192bn, 64 per cent. Capital Expenditure closed at N311,930bn, 49 per cent and recurrent expenditure performed at N262,276bn, 82 per cent.”
Ambode said N462.757bn representing 54 per cent of the total budget size had been earmarked for capital expenditure, while N389.560bn representing 46 per cent had been dedicated to recurrent expenditure, saying projects such as the Oshodi-Murtala Muhammed International Airport Road and Oshodi Interchange Terminal would be completed saying the government had been consolidating public financial management and technology-driven revenue reforms through data integration and the use of multi-payment channels.
Reporting by Okafor Amarachi

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