Lagos N813 billion 2017 budget’s been passed
The Budget 2017 presented by Governor Akinwunmi Ambode on November 29, 2016 to the Lagos State House of Assembly, yesterday was passed.
The Budget proposal presented worth, stood at N812.9 billion
The Recurrent Expenditure stands at N305.1billion and the total Capital Expenditure N507.8billion.
Although the total budget size of N812.9billion approved by the House yesterday is the same figure presented by the governor, the House however, reduced allocations to some ministries, departments and agencies (MDAs) and increased the allocation for others.
For instance, the House increased the allocation for the Ministry of Education from N525million to N650 million, Ministry of Agriculture from N293 million to N350 million and the overhead cost for House of Assembly Service Commission was increased from N210 million to N252 million.
Allocation for Lagos Water Corporation was also increased from N1.4billion to N1.6billion and the capital expenditure for the State Independent Electoral Commission (LASIEC) was increased from N2.5billion to N3billion to cater for election matters.
Fund for the state infrastructure intervention fund was increased from N5billion to N10billion.
Funds for Motor Vehicle Administration Agency was reduced from N6.5billion to N5.8billion and overhead cost of security/emergency intervention in the Ministry of Special Duties and Inter-Governmental Relations was reduced from N500 million to N400 million.
The House advised that the Ministries of economic planning and budget; Finance and State Treasury office to release fund to some agencies for accreditation purposes, including State University, Dentistry Department of the Lagos State University College of Medicine, State School of Nursing, State Polytechnic, Adeniran Ogunsanya College of Education and Michael Otedola College of Primary Education.
It also advised that the Internal Revenue Services (LIRS) be allowed to retain five-10 per cent of revenue for efficiency.
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