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Ambode presents N852.316billion for 2019 budget to House of Assembly

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Lagos State Governor, Mr Akinwunmi Ambode has presented the year 2019 budget proposal of N852.316billion to the House of Assembly.

The Governor  noted that  the budget has been adequately made to cover all areas  including ongoing projects in the state.

He  said  that N462.757billion covers capital expenditure, while N389.560billion is solely for  recurrent expenditure.

He  also assured them of a quick completion of key projects such as the Oshodi-Murtala Mohammed International Airport Road and Oshodi Interchange Terminal once the fund was available.

According to him,  nine key areas were given priority after careful assessment of the needs of the citizens  which has led to the massive investment in nine sectors of the state.

These sectors include  security, transport / traffic management, economy -including tourism and agriculture, housing, education, health, infrastructure – social and physical, water, wealth creation – skill acquisition,  enhanced capacity building, sustainable environment and smart cityprojects.

He stressed that while preparing the Year 2019 Budget, some factors were considered such as the out-going year performance, needs of people and the 2019 upcoming general elections.

He also said  total budget size of ‘N852,316,936,483,’ including a deficit financing of N77.086billion  is expected to be sourced from internal loans and other sources.

The Lagos State governorship election is scheduled to take place some months from now, but Mr Ambode won't be contesting after losing to Mr Sanwo-Olu in his party's primary election.

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