Lagos State Governor Akinwunmi Ambode presenting the 2018 budget to the state House of Assembly at Alausa, Ikeja… yesterday Lagos State Governor Akinwunmi Ambode yesterday presented N1.046 trillion 2018 budget estimates to the House of Assembly, saying the state hopes to generate on the average N60 billion monthly to finance it. The proposed budget, the governor said, represents an increase of 28.67 per cent over 2017 budget with recurrent expenditure of N347.039 billion and capital expenditure of N699 billion. Ambode, who stated that the estimate of total revenue for year 2018 is N897.423 billion of which N720.123 billion will be generated internally, said the state intends to improve on its Internally-Generated Revenue (IGR) in the face of the dwindling accruable revenue allocation from the Federal Government, as well as sustain its vision on wealth creation and poverty alleviation. He said: “A total of N148.699 billion will be sourced through deficit financing within our m...
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