Lagos house passes n8 billion 2017 budget premium times. Analyses of nigerias 2016 budget and medium term expenditure. This is the reality that we in trinidad and tobago must get used to, i. The federal government intends to raise n900bn from foreign. Yobe state in the northeast has the lowest budget proposal so far pegged at n92. Lagos state government financial statements for the year ended 31st december 2016 table of contents page governance, professional advisers and registered office 1 2 report of the accountant general 3 6 the responsibilities of the accountant general 7 report of the state auditor general 8 financial statements. Budget 2016 contents page summary of 2016 budget measures policy changes a1. This massive increase in economic activities has caused rapid urbanization of almost all local government areas within. Lagos assembly passes 2017 state budget into law lagos. Mr speaker, our proposed budget for 2017 which we have christened the budget of consolidation and prosperity is wrapped around the six key policy areas. Analyses of nigerias 2016 budget and medium term expenditure framework introduction on tuesday 22 december 2015, president muhammadu buhari presented the 2016 budget to the national assembly. Budgit is a civic organization that applies technology to intersect citizen engagement with institutional improvement, to facilitate societal change. Technical committee on budget reforms established in 2016. The lagos state house of assemblys committees on finance and public accounts has said that the cooperation of eligible taxpayers is crucial to the successful implentation of the state s 2016.
Over the past three decades, state and local government expenditures oisonsn pr and jails have increased about three times as fast as spending on elementary and secondary education. The world is happy with the 2017 budget process because its a nigerian budget. Based on the assumptions i presented earlier, we have proposed a budget of n6. As you are all aware, nigeria has a major infrastructure challenge. The total revenue estimate for 2016 fiscal year is n542. Jan 03, 2017 the lagos state house of assembly on tuesday passed the 2017 budget proposal of n812. The administration of government in nigeria is through three levels. Lagos assembly passes regulation on stamp duty the lagos state house of assembly on tuesday. Oil revenue baseline assumptions average oil production is estimated to hit 2. Lagos state government y2017 approved budget summary breakdown fiscal items y2017 budget proposal i state gross domestic product nm 28,343,000 i total revenues as a % sgdp 2. This method was a clear departure from the previous incremental budgeting method. Towers, 5b water corporation road, victoria island, p.
Pdf statutory allocation and budget implementation in southwest. The 2016 budget distinguished members of the national assembly, i now present, the 2016 budget proposals of the federal government. Lagos state, remains undoubtedly the biggest commercial hub on the west african coast with a population of about 21 million people. This page provides cameroon government budget actual values, historical data, forecast. Immediately following the announcement of budget 2016, our government will continue the planning process for our supplemental budget later this year when we will announce more actions identified through the government renewal initiative. The purpose of this report is to present the lagos state fourth quarter and cumulative budget performance, identify budget implementation challenges, and proffer suggestions and solutions for improvement. In countries like india, there is a quasifederal system of government thus every state prepares its own budget. State and local expenditures on corrections and education a brief from the u. Senator george akume hopes the 2017 budget will improve on security to avoid incessant killings of innocent nigerians and robbery.
Nigerias 2017 budget of recovery and growth thecable. Year 2016 budget presentation by his excellency, mr. Obafemi hamzat left and commissioner for local government and community affairs, dr. Lagos is a port which originated on islands separated by creeks, such as lagos island, fringing the southwest mouth of lagos lagoon while protected from the atlantic ocean by barrier islands and long sand spits such as bar beach. Pdf this study examined the challenges posed by budget padding on nigerias national. Shortly after mustapha akinkunmi was sacked by the state governor in 2016, akinyemi ashade, who also doubled as commissioner for economic planning and budget, was reassigned this new portfolio. Lagos state house of assembly above the common standards. Nigerian senate passes budget 2017 and opennass on may 11, 2017. Department of education, policy and program studies service july 2016. The finances of several state owned companies are in a precarious state.
It is a document showing the budgetary provisions for important projects, programmes and schemes included in the central plan of the country. Lagos state budget is lacking in transparency as it does not provide speci. The budget has significantly increased by almost 100% over the last decade from the 2009 budget of n405 billion to a recently proposed 2019 budget of n852. Goverment of edo state, nigeria 2017 budget speech delivered. Cameroon recorded a government budget deficit equal to 2. The lagos state house of assembly on tuesday passed the 2017 budget proposal of n812. Lagos state government household survey 2016 indicators health use public hospitals in 2016 children in school in 2016. Mr speaker, we have proposed a budget size of n150,011,831,079 billion which is a nominal 29% increase over 2016 budget estimates made up of n74,900,297,917. Nigerias 2016 budget which has been submitted by president muhammadu buhari to the national assembly, like any budget, should not be a mere expression of figures and facts. Akinwunmi ambode, yesterday, disclosed that despite the current challenging economic environment, the overall 2016 budget performance of the state as at half year. Lagos state plans to spend a record n8bn in 2017 and raise a total revenue of n642bn.
It is one of the state houses of assembly established by section 90 of the constitution of federal republic of nigeria as amended and endowed with powers to legislate as well as privileges and immunities to enable it exercise these powers without hindrance. Olowo, while presenting the committee report, said that the state was able to achieve 71 per cent budget performance in 2016 in spite of the economic recession in the country. The 2017 appropriation for repairs is even lower than the previous year as a total of n6, 587,759,993 was budgeted for repairs and rehabilitations of. Key budget assumptions the above revenue projections are based on the following assumptions. Nigeria including lagos state, ogun state, oyo state, osun state. The developed lagos state family planning costed implementation plan 2016 2018, will no doubt provide the state with the needed roadmap towards the achievement of. Lagos assembly passes regulation on stamp duty lagos. Earmarks 67% to capital expenditure, 33% for recurrent. Anybody that has had dealings in the real estate sector in nigeria, particularly in the urban areas like lagos and its environs will know the numerous dirts and risks associated with land acquisition and development. Nigerias 2016 budget breakdown by budgit real estate.
Akinwunmi ambode right, delivering his speech during the presentation of the y2017 budget estimates to the house, at the assembly complex, alausa, ikeja, on tuesday. The scenario for lagos state of nigeria is therefore, not much different when one narrows it down to the 2020 budget pitched against the prevailing, unpredictable economic situation across the. This budget is the highest budget ever presented by the federal government of nigeria at n6. Nigerian states budget analysis linkedin slideshare. Analysis of 2016 state budgets linkedin slideshare. Year 2018 budget presentation at the chambers of lagos. N60 billion counterpart funding for lagoskano standard guage rail.
The budget speech was also the first major economic speech of the president since nigeria went into a recession. Repubulika yu rwanda ministry of finance and economic. With this kind of budget with more than 7080% recurrent expenditure across top 20 top ministries. What is even more obvious is the disconnect between a longterm plan and the budget as implementation tool. Budgit empowers nigerian citizens through open data. And further actions will also be identified as part of budget 2017 next year. The lagos governors budget proposal is the highest ever in the states history, and the secondhighest in the country after governor ben ayades proposed n1.
Lagos and the 2016 peoples budget the guardian nigeria. There is a cumulative debt to gdp ratio of about 3 per cent. It is also important to note that lagos state also has the highest debt profile of n437. The highest budget presented so far is this time cross river state with a proposed whooping expenditure of n1. On the 2016 budget the guardian nigeria news nigeria and. Two nigerian states see increased budget allocations for. Akinwunmi ambode on tuesday presented the year 2017 budget proposal of n8billion to the house of assembly, assuring that the budget would be judiciously implemented to. Lagos state property protection law 2016 find, read and cite all the research you need on researchgate. Pdf the politics of budget padding and nigerias national. A breakdown of the 2018 lagos state budget passed by governor.
Thanks lagosians for support in 2016 lagos state governor, mr. Akinwunmi ambode, yesterday, disclosed that despite the current challenging economic environment, the overall 2016 budget performance of the state as at. States government, fiscal year 2016 contains anal yses that are. Akinwunmi ambode on saturday thanked lagosians for the massive support given to read more ayomiafuwape december 30, 2016. Described as the budget of change, the president first gave an overview of 2015 performance before providing the 2016 budget highlights. Appraisal of the lagos state property protection law 2016. The budget had been trailed with controversy as ambode and the state lawmakers could not agree on its process. July 19, 2016 passed a regulation to claim 30 percent revenue accrueable to nigeria postal service nps through n50.
Federal local state similarly, budgetary allocations are shared among these governments as follows. Wale ahmed right during a statewide address on the gradual ease of lockdown in the state, at the lagos. A breakdown of the 2018 lagos state budget passed by. May 21, 2016 2016 state budgets descending order state zone total lagos sw 662. Akinwunmi ambode on thursday presented the year 2016 budget proposal of n662.
We have adopted the same principles in the 2017 budget. In 2016, the budget was prepared on the principles of zero based budgeting to ensure our resources were prudently managed and utilized solely for the public good. The same budget under jonathan in 2015 was only n5, 090,764,277 and n8, 739,307,625 in 2014. Lagos state governor, akinwunmi ambode, has signed the 2018 appropriation bill into law. This is a budget with complete details for the first time. Outlining the key components of the budget, governor ambode said capital. Akinwunmi ambode, presenting the y2018 budget estimates to the house, at the assembly complex, alausa, ikeja, on monday, december 11, 2017. The budget serve as a policy tool for achieving the short, medium and longterm development goals the initiatives describe how the government will develop the state through. Dec 23, 2015 key takeaways the highest capital expenditure component of the 2016 budget will be works, power and housing at n433. This budget scorecard was produced by lagos state accountability mechanism for maternal and newborn health lasam. Government areas as well as appraisal of the social and economic situations in the state. Akinwunmi ambode has presented the year 2018 budget proposal of n1.
Akinwunmi ambode of lagos state on thursday presented a 2016 budget proposal of n662. The lagos state government prepare the budget in line with themes agenda initiative and direction for the state. The scorecard, produced in may 2016, evaluates preformance from 2015 on key budget indicators in the areas of transparency, participation, resource allocation, and budget release. Though reflecting the structure of the economy as heavily oil dependent, but it also shows indiscipline in financial management and focused implementation strategy. The 2017 budget for state house headquarters is n11, 020,382,572, down from 11,550,068,521 in 2016. This report provides an overview of lagos state s revenues and expenditures for the fiscal year 2019 compared to the budget. The lagos state house of assembly on tuesday passed the state s 2017 appropriation bill of n812. Lagos assembly passes 2019 budget punch newspapers. In partnership with state institutions, hfg is supporting the implementation of specific parts of each strategy. This represents an increase of 26 per cent over the budgets of 2014 and that of 2015 respectively, which stood at n489. The 2017 medium term budget policy statement mtbps pointed out that extraordinary measures would be needed to stabilise the public finances.
Akabueze, onetime lagos state commissioner for budget. Christened the 2018 budget budget of progress and development. Dec 18, 2015 lagosgovernor akinwunmi ambode of lagos state yesterday presented the states 2016 budget proposal of n662. I am proud to report to you that, today, your state remains financially strong and the most vibrant economy in the nigerian landspace. State and local expenditures on corrections and education. The lagos state house of assembly is the state legislature of lagos state. Y2016 budget ministry of economic,planning and budget. This will afford csos and nigerians opportunity to ask questions. Before his appointment, he was a senior partner at kpmg professional.