Lagos State Governor, Mr. Babatunde Fashola, on Monday January 13th 2014 signed into law the state’s 2014 budget of N489.69 billion, whose focus is aimed at ensuring the completion of ongoing projects, while consolidating on previous achievements.
Fashola endorsed the budget at the State House, Ikeja, just a few days after the state House of Assembly passed it. He was accompanied by the commissioner for economic planning and budget, Mr. Ben Akabueze.
The governor assured the people that his administration would work harder to improve on its previous performance.
“We are giving this budget the required push to ensure optimum implementation. This signing is a signal that we must get ready to commence full work.
I want to thank the Lagos State House of Assembly for the work that they have done during the holiday period by postponing their December recess in order to bring us this far. I must commend their work and I must on behalf of the people of Lagos, convey their appreciation to you.”
As passed by the assembly, the budget is 3.43 per cent lower than the last year’s budget of N499.105 billion. The breakdown of the budget shows that the state will spend N51.378 billion on education; N22.07billion on health; N100.12billion on works and infrastructure while the environment will gulp N25.67 billion.
Others allocations are N23.21billion for agriculture and cooperative; transportation N29.13 billion; information and strategy N28.73billion; judiciary N31.28 billion; commerce and industry N7.98billion; women affairs, poverty alleviation N1.36 billion and the legislature N11.8 billion.