Fidelity bank banner Bayelsa State banner
Fashola signs N489.69bn budget into law

By News Express on 12/01/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,302

Lagos State Gover­nor, Mr. Babatunde Fashola, yesterday signed the 2015 bud­get of N489.69 billion into law.

The event took place at the State House, Marina in Lagos. This is the first time the gov­ernor will sign the budget into law outside the office and in an unofficial period.

Fashola said he had to fast-forward the event originally slated for Monday to enable him attend a national meeting fixed for tomorrow in Abuja by the All Progressives Con­gress, (APC) so that Ministries, Departments and Agencies (MDAs) could continue with their work while he is in Abuja.

He added: “We are a govern­ment that is open to plan. Part of the planning is for govern­ment to set the budget for the beginning of the year. Lagos is the second state to sign the doc­ument after Ogun State, which is also an APC State.

“When we presented the budget, there were financial challenges but as you know, our revenue has been based largely on our common con­tribution. That is how we build our common wealth here.

“We need to be innovative, inventive and hard-working and that is what we have given in the last eight years and we won’t give anything less with the support of the people of Lagos. They are owners of this government and all of its ser­vice delivery programmes, and I think as difficult and challeng­ing as the revenue issue may be, we will consolidate and fin­ish as many possible projects as we can.”

Commissioner for Eco­nomic Planning and Budget, Ben Akabueze, said the oil fall in the international market had been factored into the budget and hoped that the price would rise as the year progressed.

He, however, noted that over 70 percent of the state’s budget was sourced through Internally Generated Revenue (IGR) be­cause the oil fall would not af­fect the budget sharply.

The budget size of N489.69 billion is the same as that of 2014, but with a slight differ­ence in the Capital to Recurrent ratio. In 2014, the Capital to Recurrent ratio stood at 52:48. The 2015 budget proposal has a Capital to Recurrent ratio of 51:49.

•Sourced from Daily Sun. Photo shows Governor Fashola.

Source News Express

Posted 12/01/2015 07:55:33 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
FRSC to deploy 25,000 men for patrol during...

Eid-el-Fitri: Saraki urges Muslim faithful to sustain virtues...

Kabiru Sokoto: Limits of demagoguery

Plateau workers begin indefinite strike over unpaid wages;...

Governor saves 70,000 women from hunger

Akwa Ibom Governor sacks commissioner

FG investigates Nigerian visa granted to wanted terrorist...

Clock ticks for Gen. Tukur Buratai and IGP...

500 ex-Biafran soldiers die of neglect

Nigerian footballer plunges to death in Italy

Dbanj and Wande Coal reunite at Tee A’s...

Deeper life pastor, 10 others killed in Abia,...


Latest News IPI demands probe of death of three Nigerian journalists D’banj’s son drowns month after celebrating first birthday Outrage as controversial Philippines President Duterte calls God ‘stupid’ Gunmen kill Katsina varsity students Osinbajo: Technology start-ups to get tax holidays Enyimba Economic City: Abia, Ruyi Group, Geometric sign agreements Nasarawa monarch has ceded our farmland to Fulani herdsmen — Tivs You are busybody, Buhari unstoppable — Tinubu tells Obasanjo War looms in Cameroon PDP condemns APC’s alleged ‘plot’ to victimise workers Extradition: Supreme Court to decide Kashamu’s fate Dogara condemns Plateau killings, insists Nigeria’s security has failed, must be overhauled


Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (353,160 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (353,145 views) Shameless Genevieve Nnaji exposes breasts in public (281,098 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,680 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (209,488 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,481 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (182,328 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (164,501 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (154,165 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (149,119 views) Lagos plane crash: Journalist releases victims’ names (144,267 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,972 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,270) Business Verdict (44) Columnists (871) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (508) Features (608) Global Business Monitor (284) International (2,059) Interview (155) Live Commentary (28) Love Matters (124) News (36,477) Opinion (1,005) Pidgin (10) Politics (5,343) Religion (772) Sports (1,563) Stock Watch (30) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




Confusion at APC Convention as Delegates fights


APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera