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Fashola introduces belt- tightening measures in budget

fasholaLAGOS State governor, Babatunde Raji Fashola, recently raised the alarm over the dwindling resources of the state, which according to him would definitely affect the implementation of its 2015 Appropriation Law for the state.
At a meeting with the 40-member state House of Assembly, at a special session presided over by the Speaker, Honourable Adeyemi Ikuforiji, He lamented that the actions of the managers of the nation’s economy had been inconsistent as its external reserves had dwindled considerably with consequent serious affect on the state revenue for the 2015 fiscal year.
Consequently, the governor announced an amendment of the budget of all the agencies of government to the actual income of the revenue.
According to Fashola, what the amendment suggested was that no section would get up to 100 per cent of its budgetary allocation.
The House of Assembly had, in January, passed a budget size of N4.89 billion, which the governor finally signed into law.
“We want to propose an amendment of the budget of all the agencies of government to the actual income of the revenue. It is not reduction of the budget, but to propose that no section gets up to 100 per cent of its budgetary allocation,” Fashola said.

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