LAGOS: Fashola presents 2015 budget proposal to House

The Lagos State Governor, Mr. Babatunde Fashola on Monday presented a budget proposal of N489.69 billion for the 2015 fiscal year to the Lagos State House of Assembly for approval.

The budget which is the last to be presented by Fashola is the same as that of 2014, which stood at N489.69 billion.

The proposed budget comprises capital expenditure of N249.232 billion and a recurrent expenditure of N239.948 billion.

While presenting the budget, the governor said the budget retains its zero deficit in order to ensure that the next government does not inherit a deficit.

The capital to recurrent ratio of 51:49 for 2015 is the same as that of last year.

According to a breakdown of the budget, the Economic Affairs has the highest allocation of N146.305 billion, followed by General Service (N107.69 billion), Housing and Community Amenities (N82.14 billion), Education (N49.033 billion), Health (N44.619 billion) and Environmental Protection (N34.953 billion), Public Safety and Order (N15.547 billion), Recreation, Culture and Religion (N3.118 billion), Social Protection (N1.589 billion), Planning Reserve (N2.26 billion) and Contingency (N2.448 billion).

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