Lagos Assembly Passes N812bn 2017 Budget Proposal Into Law
The Lagos State House of Assembly on Tuesday passed Gov. Akinwunmi Ambode’s 2017 Budget proposal of N812. 99 billion for the state into law.
The House passed the sum of N305, 28 billion as total Recurrent Expenditure and N507.82 billion as the total Capital Expenditure for the Year ending Dec. 31, 2017.
LEADERSHIP reports that Ambode had on Nov. 29, 2016, presented an Appropriation Bill of N812.99 billion to the lawmakers for approval.
The House had on Dec. 1, 2016 after receiving the budget directed all its standing committees to invite all Ministries, Departments and Agencies to defend their budgets
The passage followed the House’s adoption of the report and recommendations by its Committee on Budget and Economic Planning presented by the Chairman of the Committee, Mr Rotimi Olowo.
Olowo said that the state was able to achieve 71 percent budget performance in spite of the economic recession in the country last year.
The lawmaker said that the state would embark on progressive taxation which would bring more people into the tax net and make the rich pay more.
As parts of the committee recommendations, the lawmaker said there was a need to comply with the Appropriation (Amendment) (Re-ordering) Law, 2016 to release funds to relevant MDAs.
The lawmaker added that there was a need for the Ministry of Economic Planning and budget to carryout budget review of 2015-2017 Medium Term Expenditure Framework (MTEF) of MDAs before allocating envelopes for Y2018 proposed budget estimate.
He said that these would guide against duplication of expenditures (Capital and Recurrent) by MDAs.
The House approved a sum of N650 million to education, N350 million for Agriculture, N360 million for LASIEC, while the Capital Expenditure of LASIEC was increased from N2.5 billion to N3 billion to cater for election matters.
Meanwhile, overhead for Security/Emergency Interventions was reduced from N500 million to N400 million and N1 billion was allocated as capital expenditure for the ministry of Special Duties and Inter governmental Relations.
The Assembly approved a sum of N20.43 billion for LAMATA, N2 billion for Ferry Services, N4 billion for maintenance/Repair of roads (Recurrent) while the capital vote head for Road Maintenance rose from N790.10 million to N1.79 billion.
Meanwhile, overhead cost of Lagos State House of Assembly Service Commission was increased from N210 million to N252 million.
The House also approved N10 billion for the State Infrastructure Intervention Fund, while it approved N159.55 million for state Electricity Board.
The Speaker of the House, Mr Mudashiru Obasa, after taking voice vote on each sectoral allocation of the Appropriation Bills and approval given to each, the House passed the budget.
