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Lagos: Governor Fashola Presents N489.69b 2014 Budget to State Assembly

Fashola-2014-budget

The Lagos State Governor, Babatunde Fashola, has, for the 2014 fiscal year, proposed a budget of N489.69 billion to the Lagos State House of Assembly. The budget was a ten billion reduction from the 2013 N499.604 fiscal year budget. In the proposed budget, the government earmarked N234.665 billion for recurrent expenditure and N255.025 billion for capital expenditure.

In the Governor’s presentation, he said, “One of our programmes that we will be paying attention to is the Residents’ Registration exercise. As I said at the launch, it is for Residents of Lagos and no more. It seeks to register everybody who intends to live here for up to 6 (six) months and beyond, irrespective of where they come from. With effect from the 1st of December 2013, it will be a requirement in terms of information to be provided in order to enable us to provide service to you or process requests from you.”

In the budget, he said, “General Public Service will get N100.215 billion; Public Order & Safety, N17.977 billion; Economic Affairs, N160.046 billion; Environmental Protection, N39.727 billion; Housing and Community Amenities, N50.537 billion; Health, N37.8 billion; Recreation, Culture and Religion, N3.482 billion; Education, N77.423 billion and Social Protection N2.466billion.”

The Governor also stated that, “Total Personnel Cost/Total Revenue of 19%; Total Personnel Cost/Internally Generated Revenue of 27%, and Personnel Cost as percentage of Recurrent Expenditure of 37% anchored on a zero deficit financing requirement.”

 

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