Home Latest What the 2018 Budget Will Do For Lagosians – Obasa

What the 2018 Budget Will Do For Lagosians – Obasa

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Tunde Ogunmola

The 2018 Budget Proposal of Governor Akinwunmi Ambode for the year 2018 is achievable and it will make life better for the people of state.

Commenting on the budget during the second reading of the budget during plenary, lawmakers in the Lagos State House of Assembly commended the Governor for proposing 67% for capital and 33% for recurrent in the budget tagged; “Budget of Progress and Development.”

Recall that Governor Ambode presented a budget proposal of N1.046 Trillion to the Assembly on Monday, 11th December 2017. See Here:Ambode Presents 2018 Budget to Lagos Assemby

Committing the budget into the hands of an Adhoc Committee on Budget and Economic Planning, the Speaker of the House, Rt. Hon. Mudashiru Obasa stated that the budget is a gift to the people of Lagos State, but a gift could not be judged by it’s size until it is unwrapped.

Obasa stated that the budget should be properly scrutinized by both the Adhoc Committee on Budget and Economic Planning and other subcommittees.

The Adhoc committee on Budget is to be headed by Hon. Gbolahan Yishawu from Eti Osa Constituency 2, while the members are Hon. Yinka Ogundimu (Agege 2), Hon. Olanrewaju Ogunyemi (Ojo 2), Hon. Olufunmilayo Tejuosho (Mushin 1), Hon. Moshood Oshun (Lagos Mainland 2), Hon. Jude Idimogu (Oshodi/Isolo 2) and Hon. Noheem Adams (Eti Osa 1).

Debating the budget earlier, Hon. Tunde Braimoh (Kosofe 1) urged the assembly to give the budget an accelerated consideration and that it should be given a quick passage as it would turn the fortune of the state around.
He stated that the assembly should do its best to work on the budget so that the people of Lagos could have a better life.

In his contribution, Hon. Abiodun Tobun from Epe Constituency 1 stated that the ratio of capital expenditure to recurrent expenditure is commendable, adding that giving preference to security of lives and properties as well as healthcare was a welcome development.

“The embedded power generation in the budget as well as upgrading of slums with the budget on physical planning and the proposed building of specialist hospitals to discourage people from travelling abroad for medical treatment is commendable,” he said.

Also speaking, Hon. Bisi Yusuff (Alimosho 1) said that the budget is realistic, but that it should be based on the resources of the state.He however, advised the government to do everything possible to make the budget work.

Giving an indepth analysis of the budget, Hon. Fatal Mojeed from Ibeju Lekki Constituency 1 said that the budget did not address macro economics variables such as the price of crude oil, exchange rate amongst others.

The Deputy Speaker of the House, Hon. Wasiu Sanni Eshinlokun, who also commended the ratio of capital to recurrent expenditure, advised that more money should be voted to capital projects in the coming years.

Eshinlokun described the proposed energy reform in the budget as commendable, adding that there is a relationship between electricity and development, and that it would unleash more development on the state.

The Majority Leader of the House, Hon. Sanai Agunbiade (Ikorodu 1) said that he had no doubt that the budget would perform optimally if it is well run and that the people of Lagos State would be better for it.

On his part, Hon. Yinka Ogundimu advised that the Internally Generated Revenue (IGR) of the state must perform optimally if the budget would be realistic, and that the Lagos Internal Revenue Service (LIRS) should be strengthened.

Hon. Jude Idimogu said in his contribution that the budget is achievable and that it was possible for LIRS to achieve the proposed N440 Billion IGR.

“They can do it based on the pilot scheme. We should give the executive maximum support. A lot of people in the state don’t pay taxes, this should be looked into.

“The committees should ask relevant questions to know whether what the Governor brought was achievable. They need our support. We may likely get more from federal allocations since the price of crude oil is now stable,”

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