Lagos State Governor, Akinwunmi Ambode, on Monday, December 11, presented a budget of N1.046 trillion for the 2018 fiscal year to the state House of Assembly.
In the appropriation bill tagged ‘Budget of Progress and Development,’ 67 percent was earmarked for capital expenditure, while 33 percent was allotted for recurrent expenditure.
Ambode, while addressing the lawmakers, promised to complete all ongoing projects in the state as well as initiate new ones to consolidate on the development recorded in the last 30 months of his administration.
He said more effort would be placed on infrastructure, education, transportation/traffic management, security and health sectors.
In addition, the state government will do more for civil servants though mandatory capacity building, which would be extended to all teachers in public secondary/primary schools, officers in the health service sector and women & youth empowerment alongside Medium and Small/Micro Size Entrepreneurs (MSMSE’s).
Outlining the key components of the budget, Governor Ambode said capital expenditure would gulp N699.082billion while N347.039billion would be dedicated to recurrent expenditure.
He said despite the modest achievements recorded in 2017, there was still much work ahead, assuring that government would not relent in its efforts to give Lagosians the best by way of continuous and efficient service delivery.
“Lagos has always been a trailblazer and we must consolidate on the economic gains made so far by initiating people-friendly programmes and projects that will attract more economic improvement in Y2018.
“It is our resolve in Y2018 to strive and complete all on-going projects in order to meet their specified completion period and embark on new strategic projects.
“We intend to improve on our Internally Generated Revenue (IGR) in the face of the dwindling accruable revenue allocation from the Federal Government, sustain our vision on wealth creation and poverty alleviation,” Mr Ambode said.
The Governor also listed key projects captured in the 2018 budget to include the Agege Pen Cinema flyover; alternative routes through Oke-Ira in Eti-Osa to Epe-Lekki Expressway; the 8km regional road to serve as alternative route to connect Victoria Garden City (VGC) with Freedom Road in Lekki Phase I; completion of the on-going reconstruction of Oshodi International Airport Road into a 10-lane road and the BRT Lane from Oshodi to Abule-Egba.
On infrastructural renewal, Mr Ambode said his administration remains committed to sustaining the tempo of continuous construction, rehabilitation, upgrading and maintenance of network of roads across the state including those within the boundary areas of Lagos and Ogun States and that the bus reform initiative would be consolidated with the introduction of high and medium capacity buses, construction and completion of bus depots at Oshodi, Anthony, Yaba and many others.
He also said the movement of Mile 12 market to Imota had reached an advanced stage and would be completed in good time to pave way for relocation next year, while the 181 Local Government roads will be commenced as contractors will be mobilized immediately, as well as continuous gridlock resolution, junction improvement, construction of more laybys and advancement of signalization that will improve traffic congestion especially along the Lekki-Epe corridor.
In the area of job creation, the Governor said the government would construct an ICT Focus Incubator Centre in Yaba, commence the development of Imota and Igbonla Light Industrial Park as well as the provision of additional small scale industrial estate at Shala, while the State Employment Trust Fund will disburse more funds to Lagosians to support business and stimulate the economy.
