Posted by By VALERIE OMOIKHUDU on
Lagos State Governor, Mr. Babatunde Fashola (SAN ) on Monday signed the 2008 Appropriation Bill totalling N403,401,258,760.00 consisting of the sum of N159,627,033,481 recurrent expenditure and N243,774,225,279 as capital expenditure into law as passed by the state House of Assembly.
Lagos State Governor, Mr. Babatunde Fashola (SAN ) on Monday signed the 2008 Appropriation Bill totalling N403,401,258,760.00 consisting of the sum of N159,627,033,481 recurrent expenditure and N243,774,225,279 as capital expenditure into law as passed by the state House of Assembly.
Addressing the gathering which consisted of members of the state executive and House of Assembly at the conference room of the governor's office at Alausa. At the signing ceremony, Governor Fashola said the passage of the bill by the House of Assembly represents a re-energizing of the process of governance.
He added that the 2008 budget was conceptualized to address infrastructural development of state in the three inter modal transportation sector, traffic management , the environment, housing, jobs, poverty alleviation, agriculture, health and micro-finance.
In his words: 'We have determined the programme, we have applied the cost, we have projected on the revenue. Other arms that have critical roles and the Federal Government as a major institution must play their roles."
The Governor lamented that some of the costs in the 2008 recurrent expenditure were as a result of policies introduced by the Federal Government last year on salary increases and increase in the prices of petroleum products without consultation.
He expressed hope that this year would witness more consistency in the application of policy statements by the Federal Government and the application of the constitution especially on fiscal matters.
Continuing, Governor Fashola said such consistency is being expected in area of excess crude funds so that various Governments can plan and implement with some measure of predictability and consistency.
He said: 'the citizens have a role to play. We have done our bit, the other half is left for the citizenry in paying their taxes, levies as they fall due and as they are set, that is the tool we need to deliver on this budget".
The Governor tasked the citizens to be law abiding and peaceful as it is only in a peaceful atmosphere that the government can deliver on its promises.
It would be recalled that Governor Babatunde Fashola (SAN) had presented the Year 2008 draft budget to the State House of Assembly on the 17th of December 2007, before its passage on January 24, 2008 by the State House of Assembly after an exhaustive debate.