Leadership (Abuja)
George Okojie
6 January 2009
Lagos — The Lagos state Governor, Mr. Babatunde Fashola, on Monday, signed the Lagos State 2009 appropriation bill into law ,saying hope of accelerated infrastructural development as enshrined in the budget could be marred if Lagosians refused to pay their taxes promptly and resolve industrial matter through dialogue.
In his brief remark at the ceremony well attended by members of the state government executive and legislative arm of government, Fashola said it was high time professionals teamed up with government to promote economic growth of the state to be able to foot their demands, adding that threats of strike actions would only frustrate government efforts.
The governor commended the legislators for prompt passage of the budget which he noted would take the state to the next level in the areas of development and economic growth.
The governor said his administration is being run like a public corporation, adding the budget implementation would be meticulously monitored.
The Year 2009 Budget tagged "Budget of Accelerated Growth" as explained by the state helmsman, was carefully planned to accelerate the tempo of infrastructural development, adding that it is critical to ensure the realisation of the administration's policy thrust of poverty eradication and sustainable economic growth through infrastructure renewal and development.
It would be recalled that the Year 2009 Appropriation Bill was passed into Law by the Lagos House of Assembly last week and sent for the governor's assent.
The Bill authorised the issue and appropriation of 159.464 Billion from the Consolidated Revenue Fund for Recurrent Expenditure and N245.536 Billion from Development Revenue Fund for Capital Expenditure totaling a Budget size of N405.000 Billion for the Year ending December 31, 2009 was passed after the third reading of the Bill by the Clerk of the House, Mr. Adewale Taiwo Olatunji.
Reviewing the Year 2008 Budget, the report stated that it performed at 75 percent as at November this year explaining that the total Ordinary Revenue realised at the quarter period was N158 billion out of the expected N178.074 billion.
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