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Ambode to re-order N489.69bn 20015 budget

14 September 2015, 18:10

Lagos - As members of the Lagos State House of Assembly resumes today after three weeks of recess, there are strong indications that the state Governor, Akinwunmi Ambode may present to the assembly, a bill for the re-ordering of N489.69 billion, 2015 Appropriation Budget.

The reordering, according to informed source that preferred anonymity, became necessary in view of the present economic realities and to accommodate the attendant effect of the restructuring in Ministries, Departments and Agencies, MDAs, in the state.

Also read: Ambode appoints new heads of safety commission, water regulatory board

Sequel to this development, the governor had held several crucial stakeholders meetings with relevant government officials with the aim of working out modality for the budget re-ordering.

Therefore, Ambode, it was gathered has concluded plans to re-order the 2015 Appropriation Law, signed by Fashola on January 11th, 2015, which was a Sunday to specific.

A similar measure was taken in 2014 when the then Lagos State Governor, Babatunde Fashola, re-ordered 2014 Appropriation Bill to the tune of N11.66 Billion which arose as a result of increased need to spend a little more than anticipated on the delivery of state projects.

The reordered Budget of N11.66 Billion was made up of N7.2 Billion into recurrent expenditure and N4.46 Billion into capital expenditure representing a ratio of 51percent for capital to 49 percent for recurrent.

- News 24


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