Ambode Presents N1.046 Trillion 2018 Budget Proposal
Lagos State Governor, Mr. Akinwunmi Ambode on Monday presented the Year 2018 Budget proposal of N1.046trillion to the House of Assembly, with a pledge that his administration will make every effort to complete all ongoing projects as well as initiate new ones to consolidate on the development recorded in the last 30 months.
Governor Ambode, who christened the 2018 Budget as “Budget of Progress and Development”, said it would be used to consolidate on the achievements recorded in infrastructure, education, transportation/traffic management, security and health sectors.
He said the Budget would also focus on mandatory capacity building for civil servants, all teachers in public secondary/primary schools, officers in the health service sector and women & youth empowerment alongside Medium and Small/Micro Size Entrepreneurs (MSMSE’s).
Outlining the key components of the budget, Governor Ambode said capital expenditure would gulp N699.082billion while N347.039billion would be dedicated to recurrent expenditure, representing a Capital/Recurrent ratio of 67 percent to 33 percent and a 28.67 percent increase over 2017 budget.
The Governor said that despite the modest achievements recorded in 2017, there was still much work ahead, assuring that Government would not relent in its efforts to give Lagosians the best by way of continuous and efficient service delivery.
“Lagos has always been a trailblazer and we must consolidate on the economic gains made so far by initiating people-friendly programmes and projects that will attract more economic improvement in 2018.
“It is our resolve in 2018 to strive and complete all on-going projects in order to meet their specified completion period and embark on new strategic projects. We intend to improve on our Internally Generated Revenue (IGR) in the face of the dwindling accruable revenue allocation from the Federal Government, sustain our vision on wealth creation and poverty alleviation,” Governor Ambode said.