Ambode Presents 2017 “Golden Jubilee Budget” Of N813bn

FUNSHO AROGUNDADE

Lagos State Governor, Mr. Akinwunmi Ambode has on Tuesday presented the 2017 budget of N812.99 billion to the State House of Assembly for approval.

Ambode, while presenting the 2017 Budget Estimates, tagged it “Golden Jubilee Budget”.

It is N150.4 billion higher than the 2016 budget which stood at N662.58 billion.

The governor said that “to ensure Lagos works, we have presented all inclusive budget”

The 2017 budget has a Capital Expenditure of N512.46 billion and a Recurrent Expenditure of N300 billion.

The Capital and recurrent ratio of the budget stood at 63:37.

The governor said a large chunk of the budget would be expended on road construction and rehabilitation, health, among others.

Ambode told the assembly that his administration budgeted N662.58 billion in 2016 and that the budget, as at October 2016 performed to about 77.5 percent, which is equivalent to N350 billion.

“We are confident to say the 2016 budget has positively impact the people of Lagos State,” he said.