GOVERNOR BABATUNDE FASHOLA PRESENTS N489.690 BILLION BUDGET ESTIMATE FOR 2014  

...Education, Economic Affairs, General Public Service, take lion share

...“Focus would be to complete on-going projects, and consolidate on the gains we have made”, says Governor

  

Lagos State Governor, Mr. Babatunde Raji Fashola (SAN), on Wednesday presented to the State House of Assembly for approval a total Budget Estimate of N489. 690 billion for the 2014 financial year saying the focus would be to complete on-going projects and consolidate on the gains of the past budgets.

The amount, which is about N7.587 billion short of the 2013 Estimate, as is traditional with the Governor Fashola administration, prioritizes Capital over Recurrent Expenditure with Economic Affairs, General Public Service and Education taking the lion share.

According to details of the Budget presented in the Chambers of the new House of Assembly, Capital Expenditure took N255.025 billion while Recurrent Expenditure got N234.665 which represents a Capital to Recurrent Expenditure ratio of 52:48 as against 58:42 ratio for 2013.

In sectoral allocation, according to the Budget details, Economic Affairs got the lion share with N160,046,436,169 or 32.68 percent followed by General Public Service which got N100,215,966,990 or 20.47 percent while Education with N77,423,827,872, representing 15.81percent of the Budget Estimate, came third.

Other sectors of the economy that got priorities include Housing and Community Amenities N50,537,201,984 billion or 10.32 percent, Environmental  Protection N39,727,711,248 or 8.11 percent, Health N37,812,553,057 or  7.72 percent, Public Order & Safety N17,977,368,027 or 3.67 percent, Recreation, Culture & Religion

N3,482,081,806 or 0.71 and Social Protection which brought up the rear with N2,466,309,939 representing 0.50 percent of the Budget.

Governor Fashola said the amount allocated to Economic Affairs would be deployed towards the implementation of various IPP projects, development of Enterprise Zone in Gberigbe, Ikorodu and Upgrading of Yaba Industrial Park as well as advancement of the 10-Lane Lagos-Badagry Expressway / Blue Rail Line Corridor, completion of other on-going Road Construction Projects and pedestrian bridges and implementation of the Agric-YES, Accelerated Food Expansion Program: Rice, Animal Husbandry, Root and Cash Crops.

The Governor said the allocation for General Public Service, would go for settlement of Pensions, implementation of the on-going Residents Registration exercise and issuance of permanent residents’ card and the implementation of Public Procedure Law while allocation to Education will be utilized to improve Science and ICT facilities in Public Schools as well as pursue improvement of Science and continuous rehabilitation/upgrading of Public School buildings and facilities.

The N50,537,201,984 billion allocated to Housing and Community  Amenities would be deployed towards implementation of the Lagos Home Ownership Mortgage Scheme (H.O.M.S), rehabilitation of small scale rural water schemes /implementation of rural electrification projects, provision of rural roads, electronic Certificate of Occupancy project and upgrading of slum areas, the Governor said.

He disclosed that during the Budget year also, Government will engage in the improvement/maintenance of drainage channels, completion of new sewage treatment plant at Odo Iya-Alaro, advancement of Adiyan Water Works Phase II and improvement of water pipeline in Lagos West as well as continuous tree planting, beautification and climate change projects with the N39, 727,711,248 set aside for Environmental Protection.

In the Health Sector, the allocation will be deployed in the upgrading of health facilities renovation and equipping of flagship Primary Healthcare Centres, completion of on-going health facilities such as Ayinke House and completion of the Maternal and Childcare Centres at Epe and Badagry.

Tourism development  projects as well as rehabilitation of the Slave Route in Badagry to “Point of No Return” will take the allocation for Recreation, Culture and Religion while the allocation for Social Protection will be spent on completion of Ketu Vocational Centre for Children with Disability, provision of recreational facilities for the disabled, continuous upgrading/completion of Youth Centres and maintenance and upkeep of Old People’s Home, Boys and Girls Remand Homes, the Governor said.

Governor Fashola while throwing more light on the reason for the slight reduction in the Year 2014 Budget size as against that of 2013, said because it represents the last full year budget that his administration would implement, its focus would be to complete on-going projects, and consolidate on the gains already made.

Governor Fashola, who reviewed the performance of the Year 2013 Budget earlier noted that, the Year 2014 Budget would be the last full year budget that his administration would implement, expressed joy that the current Budget has performed exceedingly well with a cumulative aggregate performance of 71 percent in first, second and third quarters of the year.