Lagos State Governor, Mr Akinwunmi Ambode, has reduced the budget size of the 2019 fiscal year by N194 billion.
A total of N1.046 trillion was proposed by Mr Ambode for the 2018 financial year, but information revealed by the Lagos State Commissioner for Budget and Economic Planning, Mr Olusegun Banjo, said the Governor has estimated to spend N852.317 billion this year.
This is the last budget Mr Ambode is presenting as Governor of the state after failing to obtain ticket of his party, All Progressives Congress (APC), to contest for the same position for another term of four years in office. The slot was given to Mr Babajide Sanwo-Olu.
In December 2017, Mr Ambode presented the 2018 appropriation bill to the Lagos State House of Assembly amid pomp and pageantry. But this time, such was not the case with the 2019 budget.
Speaking on Wednesday, amid speculations that the Governor had not presented the 2019 appropriation bill, Mr Banjo said this year’s budget was already before the state parliament. He further said the Governor had intended to be read before the house on December 24, 2018.
According to him, the Governor had sent a verbal information to present the budget on Monday, December 24, 2018 after the State Executive Council approval on December 19, 2018, but the ceremony was postponed as the House was on recess and thereby could not form a quorum.
He said in order to meet the traditional presentation, a formal letter was sent to the House on Friday, December 28, 2018, forwarding the contents of the budget.
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. Mr Banjo said the size of the 2019 budget proposal forwarded by the Governor to the House was N852.317 billion against the N1.046 trillion sent for 2018.
