- Bemoans lack of transparency in revenue management
From Suleiman Idris, Lagos
Lagos state governor, Mr. Babatunde Fashola yesterday disclosed that the federal government owe the state a staggering sum of N51 billion certified and unpaid, out of N59Billion expended on Federal Government roads in the state and another sum of pension of N673,673,355.25 in pension obligations.
The governor also explained that the state resources have been severely adversely affected by the management and lack of transparency of the Federal Government and her agencies of the nation’s oil proceeds.
Governor Fashola made the disclosures while presenting the year 2015 budget before members of the state house of assembly at the chambers of the LSHA in Aluasa.
The governor presented a budget proposal for a total sum of N489.690bn and explained a drop in oil price from $100 to $80 per barrel at the time the budget was finalized while its monthly receipts from FAAC have fallen below the usual conservative expectations for the first time in 7 years.
He said “and lately, we are noticing that reduced patronage of the tourism and entertainment facilities has occurred in the aftermath of the Ebola outbreak. This has translated to reduced consumption and consequently reduced incomes in the Consumption Tax sub-head of our Internally Generated Revenue.”
A breakdown of the proposal indicates that economics affairs will gulp a lion share of N146. 306 billion or 29.9% followed by general public service which takes a chunk of N107. 690 billion or 22% of the estimated budget.
Also, education received N82.114, housing and community amenities will gulp 49.033, health to receive 44.617 and environmental protection taking 34.953 all making up 43. % of the expenditure.
The rest include public order and safety expected to spend N15.547, billion recreation, culture and religion will take N3.118, billion, contingency N2.448 billion, planning reserve will have N2.260 billion with social protection having the least sum of N1.589 billion.