Life for Lagosians to get better as Fashola Proposes To Spend N489.69b In 2014 - naijaswap

Fashola Proposes To Spend N489.69b In 2014

Governor of Lagos State, Babatunde Raji Fashola (SAN) yesterday presented a 2014 budget estimate of N489.690 billion to the State House of Assembly for consideration and approval.

Presenting the 2014 budget estimate before a large audience of stakeholders including party chieftains and captains of industries, Fashola noted that the proposed budget was about N10 billion shy of the 2013 budget (as amended).
He said the budget has N234.665 billion as recurrent expenditure and N255.025 billion for capital expenditure.
A breakdown of the 2014 budget proposal showed a Total Personnel Cost/Total Revenue of 19 per cent; Total Personnel Cost/IGR, of 27 per cent, and Personnel Cost as percentage of Recurrent Expenditure of 37 per cent, anchored on a zero deficit financing requirement.
The sectoral breakdown is as follows: General Public Service, N100.215 billion; Public Order & Safety, N17.977 billion; Economic Affairs, N160.046 billion and Environmental Protection, N39.727 billion.
Similarly, the Housing and Community Amenities sector got N50.537 billion; Health was allocated N37.8 billion; Recreation, Culture and Religion got N3.482 billion, while N77.423 billion and N2.466billion are devoted to Education and Social Protection, respectively.