Lagos State governor, Babatunde Fashola yesterday signed the 2015 budget of N489.69 into law.

Speaking at the brief ceremony, Fashola said the occasion was meant for Monday but that he had to call it forward to enable him attend a national meeting fixed for tomorrow in Abuja by the All Progressives Congress (APC), so that Ministries, Departments and Agencies, MDAs, could continue with work while he is in Abuja.

He said, “We are a government that is open to planning;, part of the planning is for government to set the budget for the beginning of the year. Lagos is the second state to sign the document after Ogun State, which is also an APC State.

“When we presented the budget, there were financial challenges but as you know, our revenue has been based largely on our common contribution; that is how we build our common wealth here.

“We need to be innovative, inventive and hard-working; that is what we have given in the last eight years and we won’t give anything less with the support of the people of Lagos. They are the owners of this government and all of its service delivery programmes and I think, as difficult and challenging as the revenue issue may be, we will consolidate and finish as many project as we possible.”

Also speaking , the Commissioner for Economic Planning and Budget, Mr Ben Akabueze said the oil slump in the international market had been factored into the budget and expressed hope that the price would rise as the year progresses.

See break down of budget
http://monitor9ja.com/2015/01/fashola-signs-n489-69-billion-budget/

I hope he has factored falling oil prices in this budget? abi na election rush?

naso2:
I hope he has factored falling oil prices in this budget? abi na election rush?

Lagos budget is 70% IGR

Obiagelli:

Lagos budget is 70% IGR

In Economics there is what is called circular flow of income. IGR or whatever when the Fg's revenue drops, the economy slows and IGR drops. its so simple

That's cool...lemme go get my cake knife

naso2:


In Economics there is what is called circular flow of income. IGR or whatever when the Fg's revenue drops, the economy slows and IGR drops. its so simple

Not necessarily.

Obiagelli:

Not necessarily.

please explain how a slowing economy will not affect lagos IGR

Fashola will never sign FOI bill so u wont know how much Tinubu is eating

Same with Ambode

Agbaje for change people

Use ya brain

We only need to add resource control into it and lagos budget would become 2 trillion.

oduastates:
We only need to add resource control into it and lagos budget would become 2 trillion.

what is this resource(s) you would have added or want Lagos to start controlling?