Lagos State budgets 485 billion Naira for 2012

Babatunde Fashola
Lagos State Governor

Lagos State budgets 485 billion Naira for 2012
Abdul Semiu Babalola,

The Lagos State Governor, Mr Babatunde Fashola, has presented to the state’s lawmakers for approval the sum of 485 billion naira for the 2012 budget

The budget, which represented 7.66 per cent above that of 2011, is expected to consolidate on the gains of 2011 with focus on poverty reduction, upgrading of infrastructure, environment, education, health, housing, jobs creation and other developmental programmes.

“My review of the performance of the year 2011 budget and the current economic realities will be in complete if I do not report that in spite of the difficult environment which we now operates, our budget performance at the end of third quarter was 66% which was an improvement upon the second quarter’s performance of 57 per  cent”, Fashola told the lawmakers at the state House of Assembly chamber, in Alausa, Ikeja South west Nigeria.

“This improvement was as a result of some of the policies and cost cutting creative measures that we have deployed”, the Governor explained.

Proposed budget breakdown

A break down shows that more money has been allocated for capital expenditure with 257.821 billion Naira and recurrent expenditure receiving 227.47 billion Naira.

The economic sector has the largest chunk of 154.419 billion Naira, closely followed by general public service with 108.526 billion Naira.

The 2012 budget also intends to address the challenges of Tertiary education, primary and secondary schools. It is geared towards completing on-going projects at state owned University, college of education and polytechnic. It provides for the construction and completion of laboratories, libraries and Information Communication (ICT) Centres.

At the lower level of education 314 primary and secondary schools facilities would be upgraded. The educational sector share of the budget is 72.34 billion Naira, representing 14.9 per cent. A far cry from UNESCO recommendation of 26 per cent.

Also, the sum of 44.227 billion Naira would be used to address the various environmental challenges confronting the largely cosmopolitan city.

Williams