Saturday, May 27, 2017

2015 budget: Ambode Requests Additional N24bn

ambode

Governor Akinwunmi Ambode of Lagos State has sent a letter to the State House of Assembly, requesting for the upward review of the 2015 budget, N489.69 billion 2015 appropriation budget by the sum of N23.97 billion aimed at enabling his administration execute some strategic projects.

The governor’s request was contained in a letter to the Assembly dated September 3, proposing for N5.697 billion for recurrent expenditure and N18.278 billion for capital expenditure.

The letter, which was read at a plenary yesterday, by the Senior Legislative Director, Mr. Wasiu Bisiriyu, lamented the abysmal performance of the budget, which stood at 97 percent for recurrent expenditure and 29 percent capital expenditure.

According to the letter, the rationale for proposing the budget re-ordering, included: the need for the construction of pedestrian bridge at Ojodu Berger, construction of fly-over bridges at Ajah roundabout and Pen Cinema, Agege.

The letter also stated that the budget re-ordering proposal would cater for the continued construction of blue light rail project, Lekki-Epe Expressway and acquisition of emergency/rescue helicopters and heavy duty equipment (cranes and forklift) and for Employment Trust Fund and Wealth Creation Programs.

The letter read in part: “It is worthy of note that we are constrained by the fact that there are no new revenue sources for the remaining months of the year, and as a result we would not be in a position to propose a supplementary budget, hence the recourse to a re-ordering of the 2015 budget.

“The budget, as at June 30, had a 63 percent overall percent, a far cry from the set target of 100 percent. When further analysed, the recurrent expenditure stood at 97 percent while capital was at an abysmal 29 percent performance, portending a 24: 76 capital/recurrent ratio.

“This level of performance has made it imperative to go back to the drawing board to structure a more conscientious approach to tilt our total capital investment in the remaining months in order to meet the target capital/recurrent ratio of 51:49.”
House constitutes re-ordering ad hoc committee
Following the bill for the re-ordering, Speaker of the Assembly, Hon. Mudashiru Obasa set up an eight-man ad-hoc committee to look into the budget re-ordering proposed by the governor.
The speaker, while appointing the committee gave it seven days to present its report to a plenary on September 22.

The Committee is chaired by Rotimi Olowo, Shomolu Constituency I.
Other members of the committee include: Desmond Elliot, Hon. Ibrahim Layode, Oluyinka Ogundimu, Kazeem Alimi, Fatai Mojeed and Saka Fafunmi.
In his submission, Obasa said governor Ambode should be commended for continuing with the projects of his predecessor.

LSHA urges FG to investigate FERMA
Also yesterday, the Lagos State House of Assembly has urged the Federal Government to investigate the activities and funding of the Federal Road Maintenance Agency, FERMA, for the past 8 years, in respect of Federal Roads in Lagos State.

(Vanguard)

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