Governor Akinwunmi Ambode, of Lagos State yesterday presented the 2017 budget proposal of N813 billion to the House of Assembly, assuring that the budget will be judiciously implemented to continue the massive infrastructural renewal and the enhancement of Lagos as one of the foremost tourism and investment destinations in Africa.
The governor, who christened the budget as “The Golden Jubilee Budget” as it coincides with the State’s 50th Anniversary, said it would focus on physical infrastructure, while social sectors especially health, education, youth and social development will be given adequate attention.
Giving the key components of budget, Governor Ambode said recurrent expenditure will gulp N300.535 billion while N512.464 billion will be dedicated to capital expenditure, representing a Capital/Recurrent ratio of 63 percent to 37 percent.
According to the Governor, road construction, rehabilitation and maintenance will be key focuses of the budget, with efforts be geared towards roads that will open up the hinterlands, improve connectivity in the State and reduce travel time.
He listed some of the road projects to include Murtala Mohammed International Airport Road from Oshodi, Agric-Isawo-Owotu-Arepo Road in Ikorodu, Igbe-Igbogbo Phase II- Bola Tinubu Way in Ikorodu, Ijegun Imore Phase II Amuwo in Ojo axis, Oke-Oso-Araga-Poka in Epe, Epe-Poka-Mojoda in the Epe axis and the completion of the Abule-Egba, Ajah and Pen Cinema flyovers.
The governor also said that within the course of the budget implementation, his administration will engage in Public Private Partnership (PPP) to execute some road projects including Oke Oso-Itoikin dualisation Project in the Epe axis, Okokomaiko-Seme Road Project in Badagry axis and Ikorodu-Agbowa-Itoikin-Ijebu Ode Road Project in Ikorodu axis, just as he disclosed that the Phase II of the 114 Local Government Roads project as well as the construction of the Fourth Mainland Bridge will also kick off in 2017.