Lagos Budgets N813bn for 2017

November 29, 2016, 8:44 pm

Governor Akinwunmi Ambode of Lagos State has presented the 2017 budget proposal of N813bn to the state House of Assembly, saying his administration will continue with infrastructural renewal of the state.

Ambode, who christened the budget as ‘The Golden Jubilee Budget,’ as it coincided with the state’s 50th Anniversary, explained on Tuesday that the budget would focus on physical infrastructure, while social sectors, especially health, education, youth and social development, would get adequate attention.

The governor said the recurrent expenditure would gulp N300.535bn, while N512.464bn would be used for capital expenditure, representing a Capital/Recurrent ratio of 63 per cent to 37 per cent.

He said, “Road construction, rehabilitation and maintenance will be one of the key focuses of the budget. Our efforts will be geared towards roads that will open up the hinterlands, improve connectivity in the state and reduce travel time.”

He listed some of the road projects to include Murtala Mohammed International Airport Road from Oshodi, Agric-Isawo-Owotu-Arepo Road in Ikorodu, and the completion of the Abule-Egba, Ajah and Pen Cinema flyovers.

The governor said his administration would enter into a Public Private Partnership to execute some road projects including Oke Oso-Itoikin dualisation in the Epe area, Okokomaiko-Seme Road in the Badagry area and Ikorodu-Agbowa-Itoikin-Ijebu Ode Road in the Ikorodu area.

He added that the phase two of the 114 local government road construction, as well as the construction of the Fourth Mainland Bridge would start in 2017.

“In the course of the 2017 financial year, we shall carry out fundamental reforms on all our modes of transportation. In this wise, a public transport infrastructure bond will be issued in the year.

“We will fully implement the Medical Health Insurance Scheme and complete the ongoing upgrading of the state general hospitals and the Ayinke House in Ikeja. Work will commence on our medical park in 2017,” Ambode added.

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