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Lagos Budget Hits 67 Percent in First Quarter

Lagos State Governor, Mr. Babatunde Fashola
Lagos State Governor, Mr. Babatunde Fashola
Lagos State Governor, Mr. Babatunde Fashola said on Tuesday that the state was able to achieve 67 percent performance out of the N489.69 billion budgeted for the year 2014, in the first quarter.

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The governor who spoke after the quarterly review session in Alausa, Ikeja said the first quarter performance was better than what was recorded last year.

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“In the first quarter of 2013, we were at 61 percent but I can report today that for this year, we are at 67 percent. So we have moved up. If that is any indication of what will happen this year, it will mean that we should expect a better overall performance than last year’s 85 percent.”

The governor said the general infrastructure deficit in Lagos will take some time to bridge adding that as population is growing, infrastructure development stopped.

“Population hasn’t slow down; it is quite a battle ahead. Many more classrooms, more rails, ferry terminals and also understand that these are depreciable assets. As one build then you maintain them. Some of the roads we are repairing today were built 30 years ago. It is an ongoing thing. Every nation must continue to undertake this.

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“Nothing is different, is work that never finish. You know the infrastructural changes that is taken place to drive your phone, android and others. The needs of the people are changing and the designs have to change.

“That was why we open the right of way for the benefit of the people. Development comes from different sources, they come from internally generated Revenue and they also come from the federation account and this has dropped by about 25 percent since last year. Things aren’t the same way they used to be. It is a question of what Lagosians want to buy and not whether they have paid enough, what services do they want. If what we hear outside is anything to go by, first of all, it is important to salute them on the choice they make.”

Speaking earlier, Commissioner for budget and Economic Planning, Mr. Ben Akabueze said with what has been accomplished, government has demonstrated capacity to deliver on democracy dividends adding that to succeed resident of the state must pay their tax.

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