Speeches

The Signing Into Law of The 2008 Budget Bill

Jan 28, 2008 - Democratic governance enjoins that the interest of the citizenry always take primary over and above any other considerations in the administration of public affairs. Elected representative in all tiers of governance must therefore formulate and execute policies that will improve the lot of the people.

Let me seize this opportunity to acknowledge and commend the tremendous support and sacrifice of our honourable members in the Lagos State House of Assembly who have burnt the mid-night candle to work on the swift and smooth passage of the 2008 N403.401 tagged “BUDGET OF GREAT LEAP”, which I presented on 17th December, 2007. You have not only fulfilled your sworn oath of office but you have demonstrated to the people of Lagos that you are indeed their worthy representatives and ready to work with the executive to move Lagos to the next level.

This Budget is our first Budget as an administration and it has been so conceptualized to address infrastructural development of the 3 intermodal transportation, i.e. road, rail and waterways, traffic management, environmental waste management, flood control, housing, jobs, health, road construction, and microfinance provision, job creation and poverty alleviation among others.

By this sacrifice on your part, honourable members, you have re-energised our processes and put our administration in good stead to deliver on our election promises to Lagosians.

Essentially, this year’s budget of N403.401 billion consists of N159.447billion as recurrent expenditure and N243.954 billion as capital expenditure. 46% increase our last year’s budget, 15% of those costs are attributable to Federal Government of Nigeria’s policy in the 1st quarter of 2007 to increase salary of public officers without consultation. Expectation is that the Federal Government of Nigeria will act consistently with avowed policies and will comply with fiscal regulations and the contribution as promised particularly on the so called excess crude. Cost of doing business also dependant on petroleum prices. Citizenry have a duty to fulfill their part of the social contract.

With your continuous support, and the grace of God, we shall succeed in our aspirations to deliver the dividends of good governance to the people of Lagos State.

Thanks for listening.

Mr. Babatunde Raji Fashola (SAN)
Governor of Lagos State