Fashola and his budget of consolidation
Presenting the budget Fashola said the proposed budget represented an increase of N24.59 billion over that of 2009 which stood at N405 billion. The total revenue projection of the 2010 budget is put at N307.027 billion, comprising internally generated revenue (IGR) estimate of N204 billion, dedicated revenue estimate of N20.027 billion, federal transfer projection of […]
Presenting the budget Fashola said the proposed budget represented an increase of N24.59 billion over that of 2009 which stood at N405 billion.
The total revenue projection of the 2010 budget is put at N307.027 billion, comprising internally generated revenue (IGR) estimate of N204 billion, dedicated revenue estimate of N20.027 billion, federal transfer projection of N78 billion and extra-ordinary revenue estimate of N5 billion.
A breakdown of the budget on sectoral basis showed that economic affairs is appropriated the highest sum of N 145.160 billion; general public service, N105.607 billion; education, N60.041 billion; housing and community amenities, N36.917 billion; health, N30.219; environment, N28.710 billion; security, N10.550 billion; recreation, culture and religion,N9.373 billion and social protection, N3.018.
The governor explained that the sectoral demarcation of the 2010 budget had been aligned to the standardised format set by International Development Agencies such as the World Bank and International Monetary Fund (IMF).
He said the budget projections would thrive on active public private partnership (PPP) to fund infrastructural expansion and renewal, while public order and safety would also be given priority beyond mere combating of crime to taking more people off the streets by creating jobs, alleviating poverty and reducing the desperation that feeds crime.
He emphasised that no project or programme would be abandoned by the administration, adding that there would be emphasis in the maintenance of public order and safety.
The speaker of the house, Rt Hon. Adeyemi Ikuforiji, pledged continued support to the administration in terms of passage of the appropriation bill.