Sanwo-Olu presents N1.15 trillion 2021 budget proposal to Lagos Assembly

Lagos State governor, Babajide Sanwo-Olu on Tuesday presented the 2021 budget proposal of N1,155,022,413,005.82 to members of the State House of Assembly.

He made the presentation at the legislative chamber of the Assembly complex in Alausa. Ikeja.

Governor Sanwo-Olu is confident that the proposal, tagged Budget of Rekindled Hope, will provide employment for youths, improve the healthcare system, and provide better security for residents of the state.

He believes a progressive vision for 2021 remains clear and appeals to every resident to come onboard and work with him to take Lagos to the next level.

The governor also highlighted the efforts of the state government in rebuilding Lagos following the recent violence in the state.

He gave a breakdown of the figures of the budget estimates, as well as the achievement of the government in health, education, and other sectors of the economy.

He said that the budget had a proposed Recurrent Expenditure of N451.75 billion and a Capital Expenditure of N703.27 billion.

According to him, the General Public Services allocation is N136.28 billion, under which the Science and Technology Sector has N28.27 billion and Other General Public Services has N108.05 billion.

Also, the Public Order and Safety allocation is N32.76 billion, while the Economic Affairs Sector has a proposed allocation of N381.86 billion.

Under the Economic Affairs´ allocation are – Agriculture N18.31 billion; Commerce N41,99 billion; Tourism, Art & culture N6.12 billion; Energy and Mineral Resources N32,56 billion; Transportation N98.93; Infrastructure – Works Family N172.24 billion; and Waterfront N11.78 billion.

The Environment Sector has an allocation of N50.93 billion, comprising of Drainage N11.94 billion and Other Environmental Services N39 billion.

Also, the Housing and Community Amenities Sector has N40,28 billion; Health Sector N118.36; Recreation, Culture and Religion N5.17 billion.

The Education Sector has a budget allocation of N143.65 billion, the Social Protection Sector N9.16 billion, while the Contingency Reserve (Including Special Expenditure – Statewide and Special Expenditure -Others) has N20,55 billion allocation.

For Loans (Repayments, CDSA & Debt Servicing) N166.21 billion, Personnel Cost (Statewide – Pension etc) N49.8 billion, giving a total N1.155 trillion budget for 2021.

“Consequently, for the agricultural sector, our food security plan has a cumulative budget of N22.21billion, while we are committing a cumulative budgetary provision of N311.43billion to infrastructure.

“This will cover direct intervention through the Ministries of Works and Infrastructure, Water front, Transportation, the Judiciary, our Schools and Seed Capital of N15billion for The Rebuild Lagos Trust Fund.

“To continue to drive our digitisation strategy, we have committed a total of N37.37billion investment in technology, while in the environment and health services, we have committed a total of N48.28billion and N111.94billion, respectively.

“In line with our urgent need to light up Lagos we will begin a set of initiatives in the energy sector to ensure the Lagos economy is supported by power, one community at a time. To this we have committed a total of N32.58billion in the 2021 budget,´´ Sanwo-Olu said.

In his remarks, the Speaker of the House, Mudashiru Obasa, assured the governor that the Assembly would perform its constitutional role in ensuring the passage of the budget.

He also appealed to residents to desist from destroying public properties and emphasise the need for community policing.