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Lagos targets 80% budget performance

24 October 2012, 09:47

Lagos - Mr Bayo Sodade, the Permanent Secretary, Lagos State Ministry of Economic Planning and Budget has said that government would achieve over 80 per cent budget performance by end of 2012.

Sodade said this at a workshop organised by the Ministry of Local Government Affairs in Lagos on Tuesday.

According to him, the state's budget performance currently stands at 72 per cent.

The permanent secretary said that the allocation to the various sectors in the 2013 budget reflected government’s priorities in sustaining past trends.

He said that the the highest priority went to the economic affairs sector in line with the policy thrust of the state government, adding that the economic sector was driven by infrastructure.

The permanent secretary said that health and education sectors were also being gradually nurtured to meet international benchmark.

On the reforms in the Lagos State Public Finance System, Sodade said that the state intended to grow its Gross Domestic Product (GDP) by 10 per cent by 2020, up from the current 7.5 per cent.

He listed some of the challenges confronting the state to include resource inadequacy, huge infrastructure gap, influx of people from neighbouring states, high crime rate and unemployment.

He gave an assurance that there would be efficient allocation of resources across all sectors in the 2013 budget.

Sodade also said that there would be tight operating expenditures, quarterly review of budget performance and more effective project monitoring..

He urged the participants to be innovative by generating more revenue for their local councils.

The participants were drawn from 20 local governments and 37 local council development areas in the state.

The News Agency of Nigeria (NAN) reports that at the end of the workshop, the participants called for continuous capacity building for council officials to improve efficiency and productivity.



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