Ambode presents N852.13bn budget proposal

Ambode presents N852.13bn budget proposal

Lagos State Governor, Akinwunmi Ambode, on Tuesday presented the 2019 budget proposal of N852.317 billion to the State House of Assembly for approval.

The budget is lower than last year, which was N1.04 trillion.

The budget has a Recurrent Expenditure of ₦389.560 billion and a Capital Expenditure of ₦462.757 billion, with Capital/Recurrent Ratio of 54:46.

Ambode said the government is confident that the state’s revenues will improve in 2019, stressing that the government will “consolidate on already established public financial management and technology-driven revenue reforms; through data integration and use of multi-payment channels.”