Lagos Assembly Approves N489.6bn Budget for 2014

Source: huhuonline.com
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The Lagos State House of Assembly very late on Thursday approved the sum of N489. 690bn as budget for the 2014 fiscal year, the same amount presented to the House by State Governor, Babatunde Fashol last year.

The budget was finally approved after a worrisome delay and two deferments by the lawmakers, first because 10 ministries, departments and agencies refused to produce documents necessary for the House to work; and second because the executive arm wanted the allocations to some of the ministries adjusted.

The figure, which is 3.43 per cent lower than the approved N499.105bn for last year, has recurrent expenditure at N234.665bn and capital expenditure at N255.025bn.

Hon. Mudashiru Obasa, chairman of the Committee on Budget and Economic Planning, had earlier told his colleagues that the allocations to some ministries, agencies and departments were adjusted to suit their demands.

The approved budget shows that the House of Assembly will spend the sum of N11.8bn for the year 2014. Works and Infrastructure got N100.12bn and Environment got N25.67bn. The sum of N51.378bn was approved for Education while Heath got N22.07bn.

Further breakdown of the budget shows that Agriculture and Cooperative will spend N23.21bn, Transportation got N29.13bn, Information and Strategy got N28.73bn, Judiciary will spend N31.28bn, Commerce and Industry got N7.98bn and Women Affairs and Poverty Alleviation will spend N1.36bn.

The speaker instructed the Clerk of the House, Mr. Ganiyu Abiru, to pass it over to the state governor for assent.