Shell Energy Entrepreneurs banner Yudala banner
Fashola signs N489.69bn budget into law

By News Express on 12/01/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 2,102


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


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Crisis hits National Conference, adjourns till Monday

HURIWA faults Police involvement in PDP internal crisis;...

Does President Buhari give a damn about asset...

Army officers ordered to declare assets immediately

RESIGN NOW, Group tells Nigeria’s Ambassador to Russia...

Nigeria Breweries worker, family members perish in Lagos...

Burundi set to leave International Criminal Court

Oil theft and criminal cartels, by Olusegun Adeniyi...

Controversial Python Dance II military operation finally ends...

Learning the art of predictions as tool for...

Army arrests 3 suspected IPOB members, rescues kidnapped...

RIGHTSView: Has the Nigerian educational system collapsed?

 

Latest News BREAKING: US government shutdown ends as Trump signs Bill Nigerians in UK march against killer herdsmen PDP, APC trade tackles over demolition of Borno Secretariat Sanchez completes Man Utd move, to go into battle on Friday Lassa fever hits Ondo •Kills medical doctor in Edo Why my farm was attacked, burnt — Falae CBN boosts forex market with $210m Kwara youths reject Buhari’s nominee as INEC Resident Electoral Commissioner What Goldman Sachs is telling high net worth clients about the stock market Sunny, hazy conditions to prevail today in North, Central states; clouds, rains likely down South Evil man lands in trouble for defiling 13-year-old girl Pastor Adeboye salutes Gani Adams on installation as Aare Ona Kakanfo

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,544 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (307,193 views) Shameless Genevieve Nnaji exposes breasts in public (245,731 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,896 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,515 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,981 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (156,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,516 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,409 views) Lagos plane crash: Journalist releases victims’ names (124,876 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,241 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,204 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,857) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (201) Entertainment (431) Features (541) Global Business Monitor (222) International (1,754) Interviews (139) Live Commentary (28) Love Matters (100) News (32,104) Opinion (869) Pidgin (10) Politics (4,369) Religion (667) Sports (1,409) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!