Lagos State Governor Akinwunmi Ambode has presented ₦812.998 billion for the year 2017 to continue the massive renewal of our infrastructure and the enhancement of Lagos as one of the foremost tourism and investment destination in Africa.
Ambode said his administration would focus on physical infrastructure, and shall continue to pay due attention to social infrastructure especially health, education, youth and social development in 2017.
The Budget Size is ₦813bn, Recurrent Expenditure is ₦300.535bn, Capital Expenditure is ₦512.464bn while the Capital/Recurrent ratio 63:37
According to Governor Ambode, he said "We have maintained a conservative approach in estimating our Federal Allocation due to falling oil prices that was about $41.98 per barrel at the time we finalized this budget; however the State expects an increase in Federal allocation through 13% derivation from Oil & Gas in 2017.
"In view of our financing gap, we shall continue to sustain deficit financing in the short-to-medium term; enhance revenue growth throughout the year on several initiatives including automation and efficient revenue administration.
"We would explore more collaborations with local and international investors through Public-Private Partnerships (PPP) especially in the areas of Road network expansion,Transport;Housing, and the Environment.
"The sectoral allocations as proposed in this budget will be distilled further by the Commissioner of Finance later today.
"We will equally continue implementing the ease of doing business reforms – starting a business, property registration, tax payment, e-GIS/ Smart Cityproject,continue to encourage investments in Lekki Free Trade Zone (FTZ), Badagry Deep Sea port and the Eko Atlantic project.
He stressed that "We will remain steadfast in our responsibility to make the State safe and secure for all our citizens.We will continue to invest in Security. The Neighbourhood Safety Agency will become fully operational by 2017 with presence in all our Local Governments and LCDAs.
"A key focus of the budget for the 2017 is road construction, rehabilitation and maintenance. Our government will focus on roads that will open up the hinterlands, improve connectivity in the State and reduce travel time. Some of these projects will include:
"Murtala Mohammed International Airport Road from Oshodi.
Agric-Isawo-Owotu-ArepoRoad in Ikorodu
Igbe-Igbogbo Phase II- Bola Tinubu Way in Ikorodu.
IjegunImore Phase II Amuwo in Ojo axis.
Oke-Oso-Araga-Poka in Epe.
Epe-Poka-Mojoda in the Epe axis.
Completion of the Abule-Egba, Ajah and Pen Cinema flyovers.
Our administration shall enter into PPPs for the following projects;
"Oke Oso-Itoikindualisation Project in the Epe axis.
Okokomaiko-Seme Road Project in Badagry axis
Ikorodu-Agbowa-Itoikin-Ijebu Ode Road Project in Ikorodu axis
We will commence the Phase II of the 114 Local Government Roads project and the Fourth Mainland Bridge in 2017.
"In the course of the 2017 Financial Year, we shall carry out fundamental reforms on all our modes of transportation – Roads, Water and the Walkways. In this wise, a Public Transport Infrastructure Bond will be issued in the course of the year.
"The State government will embark on the Urbanisation of the Marina axis, Waterways Channelization, establishment of more Parks and Gardens as well as the Community Sports Centres and Stadiums in different locations across the State.
"We will fully implement the Medical Health Insurance Scheme and deploy e-Health/ e-insurance Health Service solutions; and complete the on-going upgrading and extension work in the State General Hospitals and Ayinke House in Ikeja. Work will commence on our Medical Park in the 2017 fiscal year.
"With the aim of making Lagos State the next technology frontier in Africa, we will invest in Digital Libraries (e-Libraries) as well as Code Lagos projects to prepare our younger ones to meet the new work force demands, harness the benefits of technology and communicate in the language of the future, he emphasized.", He emphasized that to the Assembly members at Ikeja House of Assembly.
0 comments:
Post a Comment