Press Releases

Budget 2009 Will Sustain The Great Leap In Lagos - Fashola

Jan 5, 2009 - Lagos State Governor, Mr Babatunde Fashola (SAN) on Monday signed the State’s 2009 appropriation bill worth N405Billion into law with an assertion that it will sustain the great leap recorded last year.

Governor Fashola who spoke at the Conference Room of the Lagos House, Ikeja said with the signing of the new budget, the state has renewed its commitment to fulfill the contract it made with Lagosians to do its very best to solve as many of the problems that afflict them.

Governor Fashola declared: “This budget will be the instrument for the pursuit of our dreams and vision for Lagos. Year 2008 budget gave Lagos a great Leap. This budget will be the sustainer of that Leap”.

The Governor appealed that the budget would require the cooperation of all Lagosians to implement, through prompt payment of taxes that will provide the revenue to drive it in the face of dwindling oil prices.

He added that the 2009 budget may be the litmus test needed in the face of dwindling oil prices to determine the nation’s readiness to diversify the economy.

Governor Fashola cautioned that strikes and lockouts will not help the 2009 budget, noting that it is a budget which if successfully implemented with the people’s cooperation will help to ameliorate conditions that provoke strikes and lockouts.

Earlier, the Special Adviser to the Governor on Political and Legislative Matters, Hon AbdulLateef AbdulHakeem said the budget seeks to authorize the issue and appropriation of the sum of N159,464,217,205.00 from the Consolidated Revenue Fund of the State as recurrent expenditure and another N244,536,000,000 from the Development Fund of the state for capital projects totaling N405B.

For the second year running, the administration of Governor Fashola has given a greater percentage of the state’s budgetary allocation to capital development as against recurrent expenditure.

The event was witnessed by the Deputy Governor, Princess Sarah Adebisi Sosan, Deputy Speaker of the State House of Assembly, Hon (Mrs) Funmilayo Tejuosho, members of the State Executive Council and the House of Assembly.