Ambode presents N852.13bn 2019 budget to Assembly

Lagos State Governor, Akinwumi Ambode, on Tuesday presented N852.13 billion 2019 budget to the State House of Assembly for approval.

Mr Ambode, until the intervention of the Governing Advisory Council, had been under fire from the lawmakers for allegedly spending money not approved by the Assembly.

The governor had been expected to present the bill to the House before the turn of the new year.

The 2019 budget is over N200 billion lesser than that of 2018 which stood at N1.046 trillion.

The budget puts recurrent expenditure at N389.560 billion while capital expenditure stands at N462.757 billion.

“The projected total revenue for Year 2019 is N775.231 billion, of which N606.291 billion is expected to be generated internally, N168.940 billion is expected from Federal Transfers while a total of N77.086 billion will be sourced through deficit financing within our medium-term expenditure framework,” Ambode said.