Business
Lagos Achieves 61% Budget Implementation
The Lagos State government has achieved 61 per cent budget performance in 2013.
Governor Babatunde Fashola who disclosed this said that although the performance was slightly lower than the 65 per cent recorded in the corresponding 2012, it was still within the mark of effective budget implementation.
Fashola noted that paucity of funds had affected the implementation, but gave the assurance that government would do its best to achieve a remarkably improved performance by the end of the year.
“Yes, we have just received the first quarter report for 2013 on the budget performance and the result was a 61 per cent budget performance, slightly down from performance in the first quarter of 2012, which was 65 percent. In spite of the fact that the budget was dedicated to the completion of existing projects, and given the many variables like infl ation and the rest, I think we are well on the mark. I am satisfied with the performance and I think the capacity will improve in the second quarter; but then, that will be subject to funding because that is the major challenge we have had to deal with. But in terms of the impact, it all speaks for itself: Fitch rating for the state`s economy from stable to positive, from improved service delivery extending to Saturdays and so on,” he said.
The governor said that there is a total output for service delivery which is what a budget should do to connect with reality in terms of projects that are coming to completion, in terms of housing, school projects and so on. “I am comforted that things are heading in the right direction and we remain committed to improving upon the 2012 overall performance of 89 percent at the end the year,”, he said.
Fashola said that no development could be achieved in an atmosphere of disorder and insecurity and urged residents to respect the laws to achieve progress.
The governor restated the commitment of the state government to the improvement of lives of residents through the delivery of meaningful projects and services.
Ben Akabueze, the Commissioner for Budget and Economic Planning, also told newsmen that the budget had so far done well in the area of revenue generation.
He said the government would intensify efforts on the completion of ongoing projects, to signifi cantly improve performance over the remaining three quarters of the year.
The commissioner urged residents not to see the budget as a government affair, saying they must own it and contribute to its success by paying their taxes promptly.
Business
Entrepreneur Fetes Indigenous Patronage …Tasks Govt, NDDC, Others On Procurement
Business
Jonathan Applauds NCDMB, China’s Model for Shaping Nigeria’s Local Content Policy
Business
Vet Doctors Vow Support To Check Rabies Spread In Rivers
-
News20 hours agoSoldier, Police Officer Killed As Army Rescues Nine Abductees In Zamfara
-
News20 hours agoPH NBA Election: Committee Uncovers Over 500 Padded Names On Voters’ Register
-
News20 hours agoFubara Reaffirms Commitment To Creating Conducive Environment For Business Growth …Commissions Paint Manufacturing Plant
-
Business18 hours agoAsaba Private Jet Incident Was A Security Violation—Keyamo
-
Business17 hours agoVet Doctors Vow Support To Check Rabies Spread In Rivers
-
Oil & Energy18 hours agoNGLPP: FG Targets 5m Households By 2030
-
Rivers19 hours agoWomen Renew Call For Unity, Back Fubara’s Political Direction
-
Sports19 hours ago
INEC Seeks Media Partnership, Declares Readiness For Osun Guber Poll
