Gov. Akinwunmi Ambode of Lagos State will present the 2018 Appropriation Bill to the state House of Assembly for approval on Monday.
TheNewsGuru reports Ambode presented a budget of N662.58 billion for 2016 which was made up of N383.678 billion capital expenditure and N278.909 billion recurrent expenditure.
The 2017 Appropriation Bill of N812.99 billion tagged: “Golden Jubilee Budget” was made up of a capital expenditure of N512.46 billion and a recurrent expenditure of N300 billion.
The Lagos state budget of N662.58 billion presented by Gov. Ambode for 2016 shows an increase of 12.27% in contrast to the 2017 Appropriation Bill of N812.99 billion.
If the increment is followed as it is, it is most likely Gov. Ambode will present a 2018 budget of N912.74 billion or more for Lagos state.
A statement by Ms Bose Lambo, Director, Public Affairs of the Assembly, said the presentation would commence at 11 a.m. and urged guests to be punctual.
“This is to inform the general public that His Excellency, Mr Akinwunmi Ambode, will be presenting the 2018 Budget Estimates to the Lagos State House of Assembly on Monday, Dec. 11, 2017 at the Assembly Chamber, Alausa, Ikeja, by 11 a.m.
Attendance is strictly by invitation,” Lambo said.