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Nairaland Forum / Nairaland / General / Politics / Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget (15209 Views)
2017 Budget: Nigeria Is In Big Trouble – Minister Of Power, Fashola Says / Lagos Presents Biggest Ever Budget Proposed By A Nigerian State / Ambode Presents N813bn 2017 Appropriation Bill To Lawmakers (2) (3) (4)
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by godunia(m): 8:06am On Nov 30, 2016 |
Lagos, the only country in Nigeria. 5 Likes 1 Share |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:06am On Nov 30, 2016 |
Not the 'biggest budget' if shed of 'paddings' Below is the summary of the Lagos State budget for 2011 as presented by the Lagos State Government. (Full document is available at http://www.lagosbudget.org/pdffiles/352653_Lagos_State_budget[1].pdf) Recurrent Expenditure N198.18bn Personnel N68.23bn Overhead N129.95bn Capital Expenditure N252.59bn Total Budget Size N450.77bn [size=15pt] The 2016 budget is almost double the 2011 budget!!! Where is the money going to? Which projects warrant such costs? Have new staff been employed in hundreds of thousands?[/size] Below is analysis of spending in America's largest cities (note average city budget) https://ballotpedia.org/Analysis_of_spending_in_America%27s_largest_cities Abi #SomebodyNeedsToFundANewPoliticalParty? 2 Likes
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Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by abhosts(m): 8:08am On Nov 30, 2016 |
I remember as a kid when IBB's Total Federal Budget was 25 Billion. Something Really needs to be done about the Naira's Value. 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by timeminister: 8:09am On Nov 30, 2016 |
kayzat:heavenly truth! 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Nobody: 8:14am On Nov 30, 2016 |
three:Education is important bro... wha was the minimum wage in 2011? 2 Likes |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Araoluwa005(m): 8:17am On Nov 30, 2016 |
OZAOEKPE:how? |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Bobby4090: 8:18am On Nov 30, 2016 |
No wonder Buhari can't work with Tinubu. While progressives like Tinubu and Ambode excel in their domain, Buhari who is a conservative with lack of basic ideas keep pulling Nigeria backwards. How can the same party thats transforming Lagos (and multiplying its economy even in this time of recession) be the same party thats now a collosal failure in handling Nigerian economy. It simply means there are two APC's and they dont work together or exchange ideas. 5 Likes |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by shamecurls(m): 8:20am On Nov 30, 2016 |
And Willie Obiano is still signing different MOU's on daily basis 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:22am On Nov 30, 2016 |
three: The 2011 budget was $3b (cbn rate) or $2.8b (parallel rate) The 2017 budget is $2.6b (cbn rate) or $1.7b (parallel rate) Inflation rate in 2011 was 9%, in 2017, it is projected at 20% In real term, the budget has shrunk. 12 Likes 2 Shares |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:24am On Nov 30, 2016 |
tobimillar: [size=15pt]N18,000.00 same as today[/size] abi did you increase it? education IS REALLY IMPORTANT http://www.vanguardngr.com/2011/02/senate-approves-n18000-national-minimum-wage/ http://www.premiumtimesng.com/news/top-news/210995-nigerian-govt-evading-minimum-wage-talks-nlc.html |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by HIGHESTPOPORI(m): 8:25am On Nov 30, 2016 |
shamecurls:Cos Willie Obiano is a technocrat bringing Investments from Abroad to Anambra and maximising its potentials,and not relying on Taxes and Allocations like Lagos as a former Capital |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by TeamSimple(m): 8:25am On Nov 30, 2016 |
kayzat:Did BAT actually said that? |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by three: 8:26am On Nov 30, 2016 |
2n2k: This would hold if salaries were paid in dollars, which they aren't and if ALL of the Lagos State's expenditure is made in dollars, which it isn't 2 Likes |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by buffalowings: 8:29am On Nov 30, 2016 |
2n2k: Oops. |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Oyinda32(m): 8:30am On Nov 30, 2016 |
edoyad: Give it up to Ambode, a Governor with a Vision.. when the Capital expenditure is way more than the recurrent expenditure, if fully implemented, then Development is non negotiable.. Itesiwaju Eko. Eko o ni Baje ooo |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:30am On Nov 30, 2016 |
shamecurls: And it is the same Obiano that Nigeria government (that is more informed than you) relies upon to make Nigeria net exporter of rice in 2017. 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by AdultMaleNegro(m): 8:33am On Nov 30, 2016 |
This is what happens when you have an administrator as Governor. Not a 'politician' |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by 2n2k(m): 8:40am On Nov 30, 2016 |
three: What is the salary component in 2017 budget? Not stated. In 2011 figures you quoted, it was just 15.1% of the budget. Let us factor in subsequent increment in minimum wage introduced by GEJ regime and marginal expansion in government, it may be about 20% of 2017 budget. Apart from personnel wages which have not been adjusted to reflect the current cost of living, all other costs - capital or overheads (80%) will be at current cost. Expenditure doesn't have to be in dollars to reflect current prices. The importers of the goods would have priced their goods to reflect forex rates. There is no special separate market for government procurements. The Senate just yesterday dismissed the budget that Buhari want to present because it was based on unrealistic exchange rate of N290/$. 4 Likes |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by Lyoncrescent: 8:42am On Nov 30, 2016 |
I am so happy with this budget. I have been living in Ikorodu since 1999 and the investment of past Lagos state Governors fashola and tinubu has been phenomenal. This budget tells me Ikorodu is yet again going to benefit immensely from the 2017 budget. God bless Lagos. If you come Ikorodu my guy, you go love Lagos o. Ikorodu has probably the best brt operation in Lagos.only if the federal government who have done so little in Ikorodu can expand and rehabilitate the laspotech to ogijo to odanguyan to sagamu road then Ikorodu go show them. All we need from private sector is a mall in Ikorodu 5 Likes 1 Share |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by omonnakoda: 8:47am On Nov 30, 2016 |
three:You are ignorant ,unruly and proud of it . The Naira has lost nearly 60% of its value ,inflation is in double digits and you are here comparing 2011 and asking silly questions. Why not compare 1979? The reality is the budget is shrinking and Lagos State is still servicing dollar denominated debts .Instead of intoxicating yourself with fufu go and get a job 8 Likes 1 Share |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:48am On Nov 30, 2016 |
Waoh! Food go dey dia naw. Every hungry Nigerian should move to Lagos oo, before the gate get shut! I mean that state should accommodate at least 50 million Nigerians, especially all those displaced by the jihadists in North North. |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by CriminalIkedi: 8:50am On Nov 30, 2016 |
[s] ificatchmodeh:[/s] Enemy of progress. You are only good at insulting Tinubu and the Yoruba people. You will just die of enviness over nothing. 8 Likes |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by CriminalIkedi: 8:51am On Nov 30, 2016 |
kayzat: Gbam! 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:52am On Nov 30, 2016 |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by PDJT: 8:54am On Nov 30, 2016 |
Lyoncrescent: Waoh! Your state should take some refugees from the North North, I understand the humanitarian crisis there is unbearable, at least children and women. |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by lharstborn(m): 8:58am On Nov 30, 2016 |
Lyoncrescent: |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by lharstborn(m): 9:06am On Nov 30, 2016 |
I believe JUSTRITE is building a mega shopping mall in Ikorodu..at Ogolonto junction. Watch out for this franchise, they might just blow out Shoprite, SPAR etc out of the water in the coming years. And the ideal part is that it is solely owned by a Nigerian. |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by martineverest(m): 9:09am On Nov 30, 2016 |
tinubu wants tocompensate himself with lagos funds after apc brouhaha |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by omonnakoda: 9:20am On Nov 30, 2016 |
three:ALL the expenditure needs to be in dollars? for it to hold? Stop the empty talk and learn some sense. Lagos state is servicing dollar denominated debt . Even if it were naira denominatedthe debt burden now is not the same as 2011. This time the capital expenditure is growing and many prices have doubled since 2011.Whether it be cement or any of the other inputs into capital projects and salaries have not been stagnant either. Already the figures prove that recurrent portion of the budget has grown so why not go and search for a job.There will be many labourer positions soon in Lagos State 1 Like |
Re: Lagos Presents N813bn Budget, Nigeria's Biggest Ever State Budget by kayzat: 9:27am On Nov 30, 2016 |
TeamSimple: Here you have it in full. I SET MY GOALS AND OBJECTIVES IN ACCORDANCE WITH MY VISION. I STUDY THEM AND STRATEGICALLY EXECUTE THEM. MY DETRACTORS DISCUSS MY SUCCESSES AND FAILURE BECAUSE THEY HAVE NOTHING TO EXECUTE. I AM IN THE NEWS MORE BECAUSE I’M WORKING, NIGERIANS DISCUSS ACTIVE MEN IN THE FIELD. MENTIONING ANY NEGATIVE NEWS ABOUT ME WILL DOUBLE THE WEALTH OF ANY NEWS MEDIA THAT PUBLISHED IT. MY NAME TODAY IS A FINANCIAL MARKET FOR JOURNALIST. NOT EVEN ELECTED POLITICIANS GET THE PUBLICITY I AM ENJOYING. MY COMRADES , GO AND WORK TILL MENTIONING YOUR NAME BECOMES A SOURCE OF INCREASED WEALTH FOR SOMEONE. EVEN MY WEAKNESS CREATE WEALTH FOR VENDORS”_ —I REMAIN, ASIWAJU BOLA TINUBU– 1 Like |
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