Breaking: Ambode budgets N812.99b for 2017

Governor Akinwunmi Ambode of Lagos State

Lagos State Governor, Akinwunmi Ambode on Tuesday presented the 2017 budget of N812.99 billion to the State House of Assembly for approval.

The budget, tagged: “Golden Jubilee Budget” is N150.4 billion higher than the 2016 budget which stood at N662.58 billion

The 2017 budget has a Capital Expenditure of N512.46 billion and a Recurrent Expenditure of N300 billion.

The Capital and recurrent ratio of the budget stood at 63:37.

The governor said a large chunk of the budget would be expended on road construction and rehabilitation, health, among others.

Ambode recalled that his administration budgeted N662.58 billion in 2016 and that the budget, as at October 2016 performed to about 77.5 percent, which is equivalent to N350 billion.

-Kazeem Ugbodaga

Details soon…

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