Lagos To Spend N662.5b in 2016

The Lagos State House of Assembly has approved a total budget expenditure of N662.5billion for the Lagos State Government in 2016.

The figure is contained in the state’s 2016 Appropriation Bill presented to the House by the State Governor, Akinwunmi Ambode, which was unanimously passed by all members of the House.

It shows a recurrent expenditure estimate of N278.909, while capital expenditure will be N383.678, representing  a Capital to Expenditure ration of 58:42, against 51:49 in the 2014 and 2015 budgets.

The total revenue estimate for Lagos State in 2016 is N542.873, while the balance of N119.714 will be funded through deficit financing.