I have just signed the 2017 Budget into law. The 2017 Appropriation Law is our contract with Lagosians to continue to build an all-inclusive economy throughout the year.
We commend all the Honourable members of the State House of Assembly; ably led by the Right Honourable Speaker, Honourable Mudashiru Obasa, for their forthrightness and speedy consideration and approval of the 2017 budget.
In line with the State Development Plan 2012-2025, the Medium Term Expenditure Framework for 2017-2019, the approved budget for 2017 is N812.998bn.
Our goal is to consolidate on the modest milestones recorded in the last Eighteen months and propel our State to a path of prosperity in line with our Four Pillars of Development Plan.
These pillars of our State Development plan are:
- Infrastructure Development
- Economic Development
- Social Development and Security
- Sustainable Environment
We are optimistic on the recovery of our national economy this year. We are encouraged by the budget performance of last year (2016) which stood at 78%. Our total Capital Expenditure in 2017 will be N507.816bn while Recurrent Expenditure is estimated at N305.182bn.
Our government is committed to prudent financial management and equitable allocation of resources for the general good and will ensure proper fiscal discipline in the implementation of this Appropriation Law.
To successfully implement this budget, we need the cooperation and understanding of all taxpayers. Civic obligations and duties of citizens like tax payments have become noticeably better, self-induced and encouraging; just as we strive harder to improve service-delivery in all sectors.
We encourage all tax payers to continue in this spirit and also take advantage of available multi-pay channels in fulfilling their civic obligations. Do not pay to touts or illegal channels. Make sure your tax payments count. We are doing everything to eliminate poor services to you.
Itesiwaju Ipinle Eko lo je wa l’ogun!!!