Lagos Governor Signs 2010 Budget
Qasim Akinreti, Lagos
The
Lagos State Governor, Babatunde Fashola has signed the 2010
Budget.
The N389.571 billion budget was signed after the House of
Assembly passed the 2010 Appropriation Bill last week. Last Year
Governor Babatunde Fashola presented N429.596 billion Budget to
the House in November.
The House cut N40 Billion from the proposed budget
Breakdown
A total of N165.375 Billion was earmarked for Recurrent
Expenditure and N22, 196 billion for Capital Expenditure. N120,
296 billion was allocated to Total Overhead Costs, N28, 372
Billion for Capital Receipts and N89.943 billion for loans
repayments.
Earlier, the Speaker of the House, Adeyemi Ikuforiji while
delivering his budget speech, apologized to residents of the
state for the delay in the passage of the budget.
He said the delay was to ensure that justice is done in the
development of the state.
The Speaker also observed that the financial estimate presented
to the House, did not accommodate the findings and
recommendations of the Assembly during its Town Hall meetings
with all the 40 constituencies of the State.
Peoples’ Needs
Ikuforiji said that the house had evolved strategy towards
satisfying the yearnings of the people of Lagos by” including
in the budget some development projects and other social
economic infrastructures such as schools, roads, healthcare
centers, and pipe borne water found to be in short supply in
some areas ”.
He said the state Governor has also agreed with the inclusion of
certain projects agree upon at last year’s Town Hall meetings.
Warning
The Speaker warned the governor to ensure strict implementation
of the budget with the N40 billion cut, stressing that the
Assembly was going to painstakingly carry out its oversight
function.
” We will be watching with keen interest and monitoring with
high sense of responsibility the performance and implementation
of the 2010 budget as passed by this House”, he said .
Austeen
