By Sunday Ani and Lukman Olabiyi
The Lagos State Governor, Babajide sanwo-Olu, yesterday, presented a budget estimate of N1.38 trillion to the House of Assembly with economic affairs sector getting the lion’s share of N325,014,165,395 or 23.41 percent and the social protection sector the least with N6,109,828,1603 or 0.71 percent.
The general public services got N235,400,815,610 (16.96 percent), Public order and safety, N61,710,691,428 (4.45 percent) and environment, N49,846,704,975 (3.59 percent) in the appropriation bill tagged Budget of Consolidation. Others are housing and community amenities, N77,980,156,022 (5.62 percent), health, N123,166,815,968 (8.87 percent), recreation, culture and religion, N16,768,767,649 (1.21 percent and education with N672,5145,711 (12.37 percent).
The governor, who noted that 2022 would be the final full year of budget implementation before the next general election, said it was an excellent opportunity for him to consolidate on what his administration had done so far and ensure that every effort, investment, partnership or policy translate maximally into noticeable positive impact in the lives of the people.
He noted that the challenging environment required that government focused its interventions in areas of greatest social impact to achieve the greatest good for the greatest number in the shortest possible time.
According to the governor, the budget comprises total revenue of N1.135 trillion and a deficit financing of N203.126 billion.
“The budget size is further analysed as a recurrent expenditure of 41 percent at N564.9 billion and a capital expenditure of 59.6 percent at N823.35billion.
“The deficit financing will be by way of combination of external and domestic loans and bonds which will be within our physical sustainability parameters.”
He described the 2022 budget as the government’s next step in its journey to a true and sustainable greatness.
“We have clearly articulated our vision in tackling governance in the state through the T.H.E.M.E.S agenda and have commenced the state’s 30-year development plan, 2021-2051, which will update and replace our previous plan for 2012 -2025.”
Commending members of the Assembly whose unflinching support and cooperation he said contributed greatly to the successful implementation of the 2021 budget so far, he promised to remain committed to Lagosians and the Lagos project by leading from the front, communicating, welcoming, receiving counsel, and taking decisive action.
He also promised to deliver on the hopes and aspirations of the people, saying he would never let the people down.
“I hope that every time I look behind me, I will find you there, because you are the ones who give basis and validity to whatever servant-leadership I am opportune to offer to this Center of Excellence that we call home.
“We have a unique opportunity to actualize the immense potential of our state and launch her on the path of irreversible prosperity for the benefit of our people.”