Governor Akinwunmi Ambode of Lagos State on Monday presented a budget proposal of N1.046 trillion ‘Budget of Progress and Development’, to the State’s House of Assembly – for consideration and subsequent approval – for the 2018 fiscal year.
The projected budget size in full is One Trillion, Forty-six Billion, One Hundred and Twenty-one Million, One Hundred and Eighty-one Thousand, Six Hundred and Eighty naira – N1,046,121,181,680.
The budget has a recurrent expenditure of N347bn and a capital expenditure of N699bn.
Speaking after the presentation, the Lagos House of Assembly Speaker, Mudashiru Obasa, assured that the Assembly would examine the Lagos N1.046tn to ensure it delivered on its goal in meeting the aspirations of the people.
He said, “As usual, we are duty bound to painstakingly look at the the budget for the purpose of transforming same for the benefits of all Lagosians.
“I assure Lagosians that this House, through effective oversight, will ensure that the Year 2018 budget deliver on its promises to stimulate the economy of the state by focusing on infrastructure development, delivering inclusive growth and prioritising the welfare of Lagosians.”
Ambode had on November 26th, 2017 presented N813 billion as Year 2017 Appropriation Bill to members of the assembly.
Also, he had previously, on December 17, 2015 presented N662.588billion Year 2016 Appropriation Bill to the Assembly.