Some lawmakers in the Lagos State House of Assembly on Tuesday said the N1.046 trillion Lagos State 2018 Budget proposal would facilitate growth and development.
The lawmakers, who spoke in interviews with the News Agency of Nigeria in Lagos, hailed the state Governor, Akinwunmi Ambode, for prioritising capital expenditure.
According to them, since the 2017 Budget performance was above 70 per cent, the 2018 Budget will transform the state, especially through a planned power project.
NAN reports that Ambode presented the 2018 bBudget proposal before the state House of Assembly on Monday.
It is tagged: “Budget of Progress and Development.”
The budget size, which represented a 28.67 per cent increase over the 2017 Budget of N812 billion, had a capital expenditure of N699 billion and a recurrent expenditure of N347 billion.
The Acting Chairman, House Committee on Information and Strategy, Tunde Braimoh, said: “The budget is apt, ambitious, lofty and well-targeted at transforming the Lagos State economy and infrastructure.”
Braimoh noted that the budget provided for a power project aimed at boosting economic activities of the state.
According to him, epileptic power supply has caused severe damage to the nation’s economy, and if Lagos State Government can provide regular power supply, it will boost investments.
He said: “The problem of power supply has made our country to lose its industrial base. The budget will change the topography of Lagos.”
The lawmaker, however, said there was the need to sustain the robust relationship between the legislative and executive arms of the government for expedited implementation of the budget.
On whether the budget will be passed before January, the spokesman said it might not be possible as the Assembly would do proper scrutiny of the budget before its passage.
Braimoh, however, said the lawmakers would sacrifice their comfort to ensure quick passage of the budget without compromising standards.
Also speaking, Setonji David, the Acting Chairman of the House Committee on Physical Planning and Urban Development, said: “It is a great thing that the budget of Lagos State is over N1 trillion.
“It means Lagos is moving and more infrastructure development on the way. The ratio of capital expenditure to recurrent expenditure is fantastic, and this means the governor is visionary.
“It is quite impressive that the governor budgeted massively for the embedded power project to light up the state for industrialization.”
Olusegun Olulade, the Acting Chairman, House Committee on Health Services, said the budget would galvanise result in accelerated development of the state.
The Acting Chairman of the Assembly’s Public Accounts Committee (Local), Prince Adebisi Yusuff, who expressed satisfaction at the 2017 Budget performance, said the 2018 Budget would be better implemented.
NAN reports that Ambode stated during the budget proposal that his administration would have direct intervention in the power value chain toward generating 3,000MW Embedded Power Programme, a three-year plan to achieve regular power supply for the state in 2018.
Ambode said: “The challenge of inadequate power supply must be resolved for our economy to perform optimally, and we believe the provision of this essential utility can no longer be left in the hands of the Federal Government alone.
“We must complement each other for the overall development of our nation.”