Fashola signs 2013 budget into law

Gov.Babatunde Fashola of Lagos State on Monday in Ikeja signed the state`s 2013 Appropriation bill of 499 billion into law. 

The figure was 1.828 billion higher than the 497.227 billion naira originally presented by the governor to the State House of Assembly on Oct 31. NAN reports that 269.376 billion naira of the signed budget, tagged``Budget of Poverty Eradication and Economic Growth,`` is earmarked for capital expenditure,while 229.729 is for recurrent expenditure. 

Speaking shortly after signing the bill,Fashola noted that the budget was tailored to address some of the developmental issues in the state, and further impact positively on the lives of residents. He promised to make the budget work for the people of the state through proper implementation, and charged public servants to buckle up and be dedicated to achieving the objectives. ``Effectively implementing the budget cannot be done without the commitment of the public servants. So it is time for our men and women in the public service to lace up their boots and get set for work,``he said. 


The governor commended the State House of Assembly for the timely passage of the budget,saying the prompt passage would give the government a headstart in its implementation. Presenting the bill for Fashola`s assent,Mr Mudashiru Obasa,Chairman ,House Commitee on Appropriation, explained that the house jacked up the budget by 1.828 to meet the needs of the house and some MDAs. ``During the 2013 budget defence,the house discovered that the cut in the overhead costs of the MDAs in 2012 affected them in generating revenue. ``Based on this,we made a corrective amendment to the figure presented to us by the governor,``he explained. 

He charged MDAs on increased revenue generation to effectively drive the budget,noting that some of them performed poorly in the area of IGR in 2012. Earlier,Mr Ben Akabueze,Commissioner for Budget and Economic Planning said the signed budget was the largest in nominal terms of the state ,representing a slight increase of 1.5 percent over the 2012 budget. He said the early passage and signing of the budget reflected the cordial relationship between the executive and the legislature,adding that the development was for the good of the state. The commissioner said the state government would ensure proper implementation of the budget, and urged residents to fulfill their obligations to the state.