Infrastructural development will form a major area of focus in Lagos next year, as the state governor, Akinwunmi Ambode, on Tuesday unveiled a budget proposal of N812.998 billion, tagged the “Golden Jubilee Budget”.
Lagos State is also planning to issue a public transport infrastructure bond to enable it drive its public inter-modal transportation master plan- connecting road, rail and the waterways.
A breakdown of the budget shows a recurrent expenditure of N300.535 billion, representing 37 per cent and a capital expenditure of N512.464 billion representing 63 per cent.
According to Ambode, the budget is a conservative estimate, in view of a lean Federation Account, due to falling oil prices which stood at about $41.98 per barrel “at the time we finalised this budget. “However, the state expects an increase in Federal allocation, through 13 per cent derivation from oil and gas in 2017,” he said.
Ambode noted that like the 2016 “peoples budget”of N662.588 billion, this year’s budget will also be used to drive investment in infrastructure , such as road construction, rehabilitation and maintenance, while ongoing projects will receive a major boost.
“Our government will focus on roads that will open up the hinterlands, improve connectivity in the state and reduce travel time,” he said.
Some of the projects to be captured in the budgets include the Murtala Mohammed International Airport Road, starting from Oshodi, Agric-Isawo-Owotu-Arepo Road in Ikorodu, Igbe-Igbogbo Phase II- Bola Tinubu Way, also in Ikorodu.
Others are Ijegun Imore Phase II Amuwo in Ojo axis, Oke-Oso-Araga-Poka in Epe, as well as Epe-Poka-Mojoda, from the Epe axis, completion of the Abule-Egba, Ajah and Pen Cinema flyovers.
The governor said there would be greater focus on Public Private Partnership (PPP) to drive other projects, including the Oke Oso-Itoikin dualisation project in the Epe, ongoing Okokomaiko-Seme Road project, and Ikorodu-Agbowa-Itoikin-Ijebu Ode Road project.
Also to receive attention in the fiscal year, will be the phase II of the 114 local government roads project and the Fourth Mainland Bridge.
“In the course of the 2017 financial year, we shall carry out fundamental reforms on all our modes of transportation – roads, water and the walkways. In this wise, a public transport infrastructure bond will be issued in the course of the year.”
The government is also to embark on the urbanisation of the Marina axis, waterways channelisation, establishment of more parks and gardens, as well as the community sports centres and stadia in different locations across the state.
“We will fully implement the medical health insurance scheme and deploy e-health and e-insurance health service solutions; and complete the on-going upgrading and extension work in the state General Hospitals and Ayinke House in Ikeja. Work will commence on our Medical Park in the 2017 fiscal year.”
Reviewing the 2016 budget, Ambode said “As at the end of October, the overall performance of the budget was 71 per cent, while total revenue stood at N350 billion, while capital expenditure closed at N200 billion, being 62 per cent and recurrent expenditure performed at N180 billion being 82 percent.
It is my belief that by the end of this year; there would have been more improvements in the performance indices due to our strong investment in infrastructure. It is worthy to note also that the reforms and restructuring in the public service have continued to yield positive and encouraging results, as we continue to invest the resultant savings in other economic sectors of the state,” Ambode said.
Mudashiru Obasa, speaker of the State House of Assembly, who however cited a harsh the economic situation in the country, assured of the readiness of the legislature to work with the executive towards ensuring the maximum performance of the 2017 budget.
JOSHUA BASSEY
