Ambode Proposes N852.317bn Budget For 2019

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Ambode Proposes N852.317bn Budget For 2019
A file photo of Lagos State Governor, Akinwunmi Ambode.

Lagos State Governor Akinwunmi Ambode has proposed a budget estimate of N852.317billion for the 2019 fiscal year.

The Commissioner for Budget and Economic Planning in the state, Mr Olusegun Banjo, disclosed this in a statement on Wednesday.

According to him, the 2019 budget was already before the Lagos State House of Assembly and had intended to be read before the House on Monday last week.

Banjo explained that the governor had sent a piece of verbal information to present the budget on December 24, 2018, following the approval of the State Executive Council five days earlier.

He said the presentation ceremony was, however, postponed because the lawmakers were on recess and thereby could not form a quorum.

The commissioner added that a formal letter was sent to the House on Friday last week, forwarding the contents of the budget in order to meet the traditional presentation.

“It is expected that when the House reconvenes, the Speaker would inform members of the content of the budget proposal sent by the governor and take necessary action,” the statement said.

The size of the 2019 budget proposal is about 200billion less than that of the previous year.

Last year February, Governor Ambode signed the 2018 Appropriation Act of the state with a total budget size of N1,046,121,181,680.00.

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