Over one month after the Lagos State House of Assembly passed the bill presented to it by former Lagos State Governor, Akinwunmi Ambode in February 2019, Lagos State Governor, Babajide Sanwo-Olu on Monday signed the 2019 appropriation bill of N873.5bn into law.
The Assembly had passed the budget on April 29, 2019 and added N21 billion to the original budget of N852.317 billion presented by the immediate past governor of the state, Mr. Akinwunmi Ambode.
The new Capital Expenditure stands at N479.691 billion while Recurrent Expenditure is N393.841 billion.
Signing the bill into law at the State House, Ikeja, Sanwo-Olu said it was an exciting day for Lagosians as the law would be implemented to the fullest for their benefits.
The governor said he was aware that the year was far gone, saying his administration would deploy the state’s full machinery for effective performance of the budget.
He said, “The eight Assembly has been effective in their duties. I am aware that the year is far gone but we will ensure that we quickly deploy all machinery of government in other to achieve full utilization and performance of the budget.
“We will ensure that all the lines that you have laid will be fully adhere to, in other to ensure that citizens enjoy the benefit of government. As observed, the budget is a 55 to 45 percent, if we are lucky and push on our revenue side, it is not unlikely that before the end of the year, we will not sit to look at the budget again.”
The governor disclosed that the former administration incurred expenses as he could not spend above 25 percent of the budget since it was not signed into law before leaving office, adding that “we want Lagosians to feel the impact of this law.
“The appropriation bill touches the lives of all residents of the state. We will quickly get to work. There were expenses that were incurred by the immediate past administration because the former governor has the right to spend certain percentage of the budget before it was signed into law.
“The signing today will help us to disaggregate to the respective ministries, Agencies and departments. So we will need to push on both the revenue and expenditure parts of the budget. This is to ensure that residents of the state feel the impact of the budget that is just signed into law.
“We will push on the capital revenue side, especially on our revenue and see what are the creative means of financing, that we can bring on board within the law, to ensure that citizens feel the benefit of democratic government.”
The governor also signed three other bills into law. They are: The Domestic Staff Service Provider Registration Law 2019; Lagos State House of Assembly Service Commission (Amended) Law 2019 the Lagos State Neighbourhood Safety Corps Agency Law.
Senate Mulls Separate Budget For Police Commands
The President of the Senate, Dr. Ahmad Lawan, says the National Assembly is planning a separate budget for adequate funding...
Election Tribunal: Court Rules In Favour Of Governor Sani Bello
Justice Adama Jauro of the Court of Appeal, Abuja, has delivered its judgment in an interlocutory appeal filed by the...
Court Sentences Togolese Cook, Who Murdered Boss To Life Imprisonment
Justice Mobolanle Okikiolu-Ighile of the Lagos State High Court in Lagos on Tuesday sentenced a Togolese cook, Sunday Adefonou Anani,...
South-West Governors Vow To Stamp Out Kidnapping, Banditry
Amid frightening insecurity challenges rocking the country and zone, South West governors on Tuesday converged on Ibadan, Oyo State to...
Tertiary Institutions Failed To Use 380,477 Admission Quota In 2018 – JAMB
About three hundred and eighty thousand, Four Hundred and Seventy-Seven admission quota were not utilised in the 2018 tertiary education...
Court Orders Ekiti Monarch To Vacate Stool Years After Installation
The Owa of Odo Ayedun, Oba Ilesanmi Ajibade has been ordered by the Court of Appeal sitting in Ado Ekiti...
Nigeria Loses About N455bn Of GDP To Poor Sanitation Annually – Survey
Nigeria is losing a whopping sum of N455 billion out of N143,213,450,337.56 trillion ($397,270,000), representing 1.3 per cent of its...
NEWS8 hours ago
10 Killed In Wukari High Way Road Blocks
ENTERTAINMENT7 hours ago
‘Don’t Link Me With Helicopter Incidents At Ore’, Says Julian Osula
COVER STORIES20 hours ago
CBN Kicks Off PMB’s 100m Jobs Project
COVER STORIES20 hours ago
Zamfara: Ex-Gov Yari Leaves N251bn Debt
NEWS20 hours ago
Gov Fintiri Sacks LG Staff Employed From April 2016 To Date
WORLD11 hours ago
‘Mental Retardation’: Iran’s President Mocks Donald Trump
OPINION19 hours ago
PMB’s Next Cabinet And The Case For Saleh
FEATURES22 hours ago
Obaseki, Oshiomhole’s Rift Ignites Realignment In Edo