By Olasunkanmi Akoni, Ebun Sessou and Monsur Olowoopejo
Lagos State Governor, Mr. Akinwunmi Ambode today, Tuesday, presented N813 billion Year 2016 Appropriation Bill to members of the state House of Assembly for consideration and subsequent approval.
Ambode had on December 17, 2015 presented N662.588billion Year 2016 Appropriation Bill to members of the Lagos State House of Assembly.
The 2016 budget was made up of capital expenditure of N383.678 billion and a recurrent expenditure of N278.909 billion in the ratio of 58:42 respectively as against 51:49 in 2014 and 2015.
The 2016 budget represented an improvement of 26 per cent over the budgets of 2014 and 2015 respectively, which stood at N489.69 billion.