By Olasunkanmi Akoni – Lagos
The Lagos State House of Assembly has expressed assurance to pass the Year 2020 proposed budget of N1.168 Trillion by Governor Babajide Sanwo-Olu’s into law by January 2, 2020.
Recall that Sanwo-Olu had November 8, presented the proposed N1.168 Trillion, the Year 2020 Budget to members of the State House of Assembly for consideration and subsequent approval.
The budget, Christened, “Awakening to a Greater Lagos” is higher than the previous year by 37 per cent.
Sanwo-Olu explained that “The objectives of our 2020 budget proposal include: Attract private sector investments to the state
economy by creating an enabling environment, aggressively develop, upgrade and maintain our infrastructure, invest in human capital development, that is, education and healthcare; facilitate sustainable social investment and enterprise, improve capacity to collect due revenues as efficiently as possible, build impactful partnerships with the Federal Government, other States, development partners and civil society, among others.”
The budget is to be funded by a projected: Total Revenue of N1.071 trillion and a deficit amounting to N97.53 billion.
The sectoral breakdown showed: Capital Expenditure to N723.75 billion, while the Recurrent Expenditure is N444.81 billion, giving a 62:38 capital to recurrent ratio.
Chairman of the Lagos State House of Assembly’s Committee on Information, Strategy and Security, Tunde Buraimoh, disclosed this yesterday, during an interaction with newsmen at the Assembly Complex, Alausa, Lagos.
Buraimoh, representing Kosofe Constituency I, said the state Assembly has been working round the clock to ensure that the 2020 proposed Appropriation Bill is translated into law not later than January 2, 2020, so that executive can have ample time and opportunity to execute all the proposals that are contained in the budget.
The lawmaker stressed that the Assembly has resolved to give the budget proposal speedy consideration and passage in consistence with the realisation of the T.H.E.M.E.S, agenda of the Executive, which is: Management and Transportation, Health and
Environment, Education and Technology, Making Lagos a 21st Century Economy, Entertainment and Tourism and Security and Good Governance.
According to him, “The Lagos State House of Assembly because of its cognisance of responsibility to make the people get better and the greatest happiness to go to the greatest number of people is cautious of the fact that, whatever is worth doing at all, is worth doing well and in good time.
“And there is no point taking any day not to talk of any week or any month out of the 52 weeks or 12 months that makes a year.
“So, the Lagos State House of Assembly is trying as much as possible to get the executive ready to action and to hit the Year 2020 running by making sure that the 2020 budget’s estimates and proposals are made into law on or before but not later than the first working day of January 2020.
“This is to make sure that the executive have ample time and opportunity to execute all the proposals that are contained in the budget.”
Buraimoh added that the Assembly would ensure that residents enjoy dividends of democracy and good governance by the Governor Sanwo-Olu-led All Progressives Congress, APC, in the state.