The Lagos State Governor, Mr Akinwunmi Ambode has signed over 1 trillion naira of the 2018 Appropriation Bill of the State into law.
This is with a total budget size of N1,046,121,181,680.00.
The budget comprises of about N347 billion to be funded from the Consolidated Revenue Fund, and about N699 billion from the Development Fund for both capital and recurrent expenditure for the year ending 31st December, 2018.
Governor Ambode, while presenting the 2018 Appropriation Bill to the State House of Assembly, had pledged that his administration would make every effort to complete all ongoing projects as well as initiate new ones to consolidate on the development recorded in the last two and half years.
He said the budget, christened as “Budget of Progress and Development”, would be used to consolidate on the achievements recorded in infrastructure, education, transportation/traffic management, security and health sectors, among others.