Lagos Assembly Passes N489.69b Budget for 2014 Fiscal Year

Lagos State House of Assembly, yesterday, approved a total sum of N489. 690 billion as budget for the 2014 appropriation year.
The amount is 3.43 per cent lower than the last year’s budget. Out of the total sum, N234.665billion is for recurrent while N255.025 billion is for capital expenditure.
Presiding on the deliberation, late into the night, Speaker of the house, Mr. Adeyemi Ikuforiji, passed the budget, after considering the report from the appropriation committee headed by a member of the house, Mr. Mudashiru Obasa.
The committee had read a breakdown of the budget on sectoral basis, even as the committee to reduce allocations to some ministries, agencies and departments (MDAs) and added to others, based their needs.
The breakdown of the budget shows that the state would spend the sum of N51.378 billion on Education, N22.07billion; Heath, N100.12 billion; Works and Infrastructure, N25.67billillion; Environment.
Others are Agriculture and Cooperative, N23.21billion, Transportation, N29.13billion, Information and Strategy, N28.73billion, Judiciary, N31.28billion, Commerce and Industry, N7.98billion and Women Affairs, Poverty Alleviation, N1.36billion and House of Assembly, N11.8billion.
Following the passage, the Speaker, Ikuforiji, urged the clerk of the house, Mr. Ganiyu Abiru, to communicate the outcome without delay to the governor, Babatunde Fashola, for his assent.