{"id":3950,"date":"2019-02-05T17:02:59","date_gmt":"2019-02-05T17:02:59","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=3950"},"modified":"2019-02-05T17:03:55","modified_gmt":"2019-02-05T17:03:55","slug":"breaking-ambode-finally-submits-n852-billion-2019-budget-for-lagos-photos","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-ambode-finally-submits-n852-billion-2019-budget-for-lagos-photos","title":{"rendered":"BREAKING: Ambode finally submits N852 billion 2019 Budget for Lagos"},"content":{"rendered":"<p>Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented the year 2019 budget proposal of N852.316billion to the House of Assembly, with a pledge that it had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the State.<\/p>\n<div class=\"papcx5c59b5b87f3b8\">\n<p>PoliticsNGR learned that the Governor said N462.757billion representing 54 percent of the total budget size had been earmarked for capital expenditure, while N389.560billion representing 46 percent had been dedicated to recurrent expenditure, saying that key projects such as the Oshodi-Murtala Mohammed International Airport Road and Oshodi Interchange Terminal, among others would be completed.<\/p>\n<p>He said from inception of his administration, nine key areas were given priority after careful assessment of the needs of the citizens, adding that such had informed the massive investment in the said sectors which he listed to include security, transport \/ traffic management, economy -including tourism and agriculture, housing, education, health, infrastructure \u2013 social and physical, water, wealth creation \u2013 skill acquisition\/microfinance, e-Governance and enhanced capacity building, sustainable environment and smart city projects.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-3954\" src=\"https:\/\/www.africa-press.com\/nigeria\/wp-content\/uploads\/sites\/3\/2019\/02\/PIX-2836-300x198.jpg\" alt=\"\" width=\"300\" height=\"198\" srcset=\"https:\/\/static.africa-press.net\/upload\/sites\/3\/2019\/02\/PIX-2836-300x198.jpg 300w, https:\/\/static.africa-press.net\/upload\/sites\/3\/2019\/02\/PIX-2836-768x507.jpg 768w, https:\/\/static.africa-press.net\/upload\/sites\/3\/2019\/02\/PIX-2836-1024x676.jpg 1024w, https:\/\/static.africa-press.net\/upload\/sites\/3\/2019\/02\/PIX-2836-741x486.jpg 741w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Giving details of what informed the budget size, Governor Ambode said the performance of Y2018 budget of N1.046trn as at November 2018 stood at 60 percent owing to reduction in revenue projections, while the total revenue stood at N530.192billion.<\/p>\n<p>According to him, \u201cIn the outgoing year, however, we experienced a reduction in our revenue projections, which affected our projected performance and our desired implementation of the Y2018 Budget. The overall Budget performance as at November 2018 stood at 60 per cent\/N574,206billion with actual cumulative total revenue of N530,192billion\/64 per cent, Capital Expenditure closed at N311,930billion\/49 per cent and Recurrent Expenditure performed at N262,276billion\/82 per cent.<\/p>\n<p>\u201cIn preparing the Year 2019 Budget, therefore, we were very mindful of the out-going year performance, the yearnings of our people and the fact that we are going into an election year. Consequently, we are today presenting a Budget that will be all-encompassing, reflect the level of resources that will be available and with special consideration to the completion of major on-going projects in the State.\u201d<\/p>\n<p>While outlining the key components of the Y2019 budget and the sectoral allocations, the Governor said with priority given to completion of major infrastructure projects and smooth transition to the next administration, the government was proposing a total budget size of \u2018N852,316,936,483,\u2019 including a deficit financing of N77.086billion which is expected to be sourced from internal loans and other sources.<\/p>\n<div class=\"jvpro5c59b5b87ecb2\">\n<p>He added: \u201cThe projected total revenue for Year 2019 is \u20a6775.231billion, of which \u20a6606.291billion is expected to be generated internally, \u20a6168.940billion is expected from Federal Transfers while a total of \u20a677.086billion will be sourced through deficit financing within our medium term expenditure framework.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented the year 2019 budget proposal of N852.316billion to the House of Assembly, with a pledge that it had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the State. PoliticsNGR learned that the Governor said N462.757billion representing 54 percent of the [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":3952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28],"tags":[],"class_list":["post-3950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BREAKING: Ambode finally submits N852 billion 2019 Budget for Lagos - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/breaking-ambode-finally-submits-n852-billion-2019-budget-for-lagos-photos\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: Ambode finally submits N852 billion 2019 Budget for Lagos\" \/>\n<meta property=\"og:description\" content=\"Lagos State Governor, Mr Akinwunmi Ambode on Tuesday presented the year 2019 budget proposal of N852.316billion to the House of Assembly, with a pledge that it had been carefully prepared to be all-encompassing and dedicated to complete major ongoing projects in the State. 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