Governor of Lagos State, Mr. Babajide Sanwo-Olu, has promised the support of his administration for creative industry with a view to making the sector achieve a sustainable economic status. 4

Lagos State Governor, Babajide Sanwo-Olu, has written to the state House of Assembly, seeking for the re-ordering of the 2019 budget.

The governor, who lamented the lack of new revenue sources, made this request through a letter sent to the lawmakers and read by the Clerk, Mr. Azeez Sanni, during Tuesday’s plenary session.

Sanwo-Olu noted that budgetary provisions of both recurrent and capital budget of Ministries, Departments and Agencies (MDAs) were not likely to be utilised before the end of the year and N34.050 billion can be re-ordered.

The breakdown shows that the recurrent is N24 billion while the capital is N10.050 billion.

He explained that the government is constrained by the lack of new revenue sources for the remaining months of the year and as a result, will not be in a position to propose a supplementary budget, hence the recourse to re-ordering of the 2019 budget.

Sanwo-Olu, in the letter noted that the 2019 budget had been partially implemented by the last administration before its tenure came to an end on 29th of May, 2019.

According to him, the budget as at 31st August 2019, had a 71 per cent overall performance, which was below the set target of 100 per cent.

“Further analysis shows that the recurrent expenditure stood at 80 per cent while capital expenditure was at 64 per cent performance, portending a 49:51 capital/ recurrent ratio against the target of 55:45.

“It should be noted that some of the major MDAs that are supposed to implement the capital expenditure are performing below expectation, while others have almost exhausted their budgetary provisions,” said Sanwo-Olu.

The governor, therefore, implored other arms of government to cooperate with him by ensuring that they improve on spending in priority areas.

He stressed that the present administration is confronted with the need to keep its electoral promises to the citizens and resolved to take advantage of weather condition in the later part of the year to complete various projects.

“As a result, the present structure of the budget would have to be amended to specifically drive capital expenditure through the completion of various ongoing capital projects, which were started by the previous administration, in addition to accommodating few new priorities such as completion of Lagos-Badagry Expressway, Agege Pen cinema Flyover bridge, Agric-Isawo road, Bola Ahmed Tinubu-Igbogbo road, rehabilitation of schools, initiate and complete smart city project and zero tolerance for portholes amongst others.”

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