Fashola Signs N11bn 2014 Reordering Budget
Lagos State Governor, Babatunde Fashola, Wednesday signed a bill to reorder the state’s 2014 budget.
Signing the bill at the Conference Room, State House, Alausa, Fashola said the current health and security challenges as well as the reversal in school fees at the Lagos State University, LASU necessitated the adjustment in the budget.
The adjustment totaling N11.66 billion did not in any way affect the initial size of the 2014 budget which still remains N489 billion.
According to the governor, the ordering was also necessitated to cater for “some hazard allowances and those types of things for people who do hazardous work and lately the unplanned but now compelling need to improve capacity to overcome the challenge of the imported Ebola Virus.”
Explaining the effect of the reordering, Commissioner for Finance, Ayo Gbeleyi, said the difference was between the capital and recurrent expenditure, noting however that the change was not really significant.
Gbeleyi said, “In this regard we have a total of N11.66 billion of our budget reordered. This is made up of N7.2 billion reordered into recurrent expenditure and N4.46 billion into capital expenditure, so it’s just a slight reduction of one per cent in favour of recurrent expenditure.”
It would be recalled that the governor had two weeks ago, written to the state House of Assembly to request a re-ordering of the 2014 budget to address some exigent and pressing issues in the state.
The budget re-ordering, according to Fashola, was necessary to meet demands for more public services, which are “sufficiently compelling and cannot wait until 2015”.