Lagos State Budget 2014 – Governor Fashola of Lagos State presented a budget 2014 of N489.69 billion to the State House of Assembly for approval for the 2014 fiscal year.
The Lagos state budget 2014 shows a drop by N10 billion of 2013 budget, which was N499.604b. It is the first time the Lagos State Government recorded a drop in its budget in last 14 years since the democratic dispensation in 1999.
The Lagos state budget 2014 is made up of N234.665b recurrent expenditure and N255.025b capital expenditure.
Presenting the Lagos state budget 2014 to the Assembly, Governor Fashola said the 2014 budget comprise a Total Personnel Cost and Total Revenue of 19%; Total Personnel Cost and IGR of 27% and Personnel Cost as percentage of Recurrent Expenditure of 37%, saying that a zero deficit financing requirement is proposed for 2014 budget.
The Sectoral allocation shows that General Public Service takes N100.215 billion; Public Order & Safety, N17,977b; Economic Affairs, N160.046b and Environmental Protection, N39.727b.
The sum of N50.537b is budgeted for Housing and Community Amenities; Recreation, Culture and Religion, N3.482b; Education, N77.423b, Health, N37.8b; and Social Protection, N2.466b
“Because this is the last budget that my administration will implement, it represents a slight reduction in 2014 budget size when compared with the 2013 budget. Governor Fashola said, Its focus will be to complete on-going projects, and consolidate on the gains we have made,”
Governor Fashola said the sectoral highlights of the 2014 budget are – General Public Service, Residents Registration, Pensions, and Issuance of permanent residents’ cards, Public Order and Safety, implementation of Public Procurement Law, Computerisation/Automation of Judicial procedures including e-filing.
Others include completion of on-going High/Magistrates’ Courts projects, Renovation/Rehabilitation of Court Rooms and Judges Chambers and Improving Safety and Disaster Management.
He added that the Lagos state 3014 budget would also focus on implementation of various IPP projects, development of Enterprise Zone in Gberigbe, advancement of Ten-Lane Lagos-Badagry Expressway / Blue Rail Line Corridor, Ikorodu and Upgrading of Yaba Industrial Park, completion of other on-going Road Construction Projects and pedestrian bridges, Agric-YES, Accelerated Food Expansion Programme: Rice, Animal Husbandry, Root Crops, amongst others.