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Breaking News:Ambode presents 812.9b budget estimates before Lagos Assembly

 

By Olaolu Oladipo, Lagos

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

A careful appraisal of the document shows that the budget is N150.4 billion higher than the 2016 budget which stood at N662.58 billion.

Of the total sum, Capital Expenditure stands at N512.46 billion while recurrent expenditure amounts to the sum of N300 billion.

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

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

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