Governor Akinwunmi Ambode, of Lagos State yesterday presented the 2017 budget proposal of N813 billion to the House of Assembly, assuring that the budget will be judiciously implemented to continue the massive infrastructural renewal and the enhancement of Lagos as one of the foremost tourism and investment destinations in Africa.
The governor, who christened the budget as “The Golden Jubilee Budget” as it coincides with the State’s 50th Anniversary, said it would focus on physical infrastructure, while social sectors especially health, education, youth and social development will be given adequate attention.
Giving a sectoral breakdown of the Budget Estimates, Commissioner for Finance, Mr. Akinyemi Ashade said the governor earmarked N205.85 billion for General Public Services representing 25.32 percent of the budget, N36.43 billion to Public Order and Safety, representing 4.48 percent, while Economic Affairs received a lion share of N295.84billion representing 36.39 percent.
In other sectors, Ashade told newsmen that Environment got 56.31 billion, representing 6.93 percent, Health – 57.29 billion representing 7.05 percent, while Education got N92.4 billion representing 11.37 percent of the budget.
The Commissioner said the estimates will be funded from a total revenue of N642.849 billion while the balance of N170.150 billion will be funded through a N100 billion Bond Issuance program and a combination of internal and external loans.