Sanwo-Olu presents budget proposal of N1.68 trillion for 2020
Governor Babajide Sanwo-Olu, on Friday, presented the Year 2020 Budget proposal to the House of Assembly, unveiling his administration’s plan to accelerate the growth of State’s economy by proposing aggressive investments in critical areas of priorities – physical infrastructure, environment, human capital and security.
Sanwo-Olu announced that the State would be spending N1.168 trillion, which will be funded
Sanwo-Olu plans to spend N48 billion on education and technology. This represents 60 per cent rise in capital allocation to the Ministry of Education. On healthcare, the State plans to spend N33 billion on healthcare programmes, which include proposed revamping and re-equipping over 350 Primary Health Centres. Sanwo-Olu described the proposed budget as “unique”, noting that its details reflected the wishes of residents, following series of consultations and feedback from stakeholders across senatorial districts. The Governor assured residents of transparency and accountability in the implementation of the budget, pointing out that there would be strict performance mechanism to drive compliance and measure the progress of the budget at the execution stage. He said: “The 2020 Budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years. This is in line with our commitment to transparency and accountability in the management of public finances. We have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1 billion this year, to provide for industrial hubs, parks, graduate internship programs and virtual markets for artisans. This is in support for Micro, Small and Medium Enterprises (MSMEs) which are the engines for both economic and employment growth.” Reviewing the performance of 2019 Appropriation Bill, which he signed into law in June shortly after he assumed office, Sanwo-Olu said his Government embarked on strict implementation of the budget and achieved 69 per cent efficiency at the end of September. He said his administration completed critical projects that directly impacted residents, including two Maternal and Child Care Centers (MCCs) in Eti-Osa and Alimosho areas, and 492-flat Lateef Jakande Housing Estate in Igando.
The Governor said several other capital projects captured in the 2019 budget, including 31 arterial roads in Ojokoro/Ijaiye area, a High Court and Magistrates Court complex in Eti-Osa Local Government Area, and a Police Command Complex in Ojo Local Government Area, will be completed. Sanwo-Olu observed that the approved re-ordering of the 2019 budget by the legislature gave the Government an opportunity to raise N250 billion in addressing critical infrastructure needs, including rehabilitation of public schools, ongoing construction of Lagos–Badagry Expressway, Agege–Pen Cinema Overhead Bridge, Agric–Isawo Road, Bola Ahmed Tinubu–Igbogbo Road, and an ongoing road rehabilitation by Lagos Public Works. He added that the loan will also enable his administration to start the desilting of drain systems, provision of security and emergency hardware, light rail infrastructure, and construction of a General Hospital in Ojo, which is to be fitted with a Spinal and Neurology Unit. Sanwo-Olu reiterated that his administration’s development agenda, known as Project T.H.E.M.E.S, was designed to address major challenges facing the State and create a city that would work for the citizens. He said his administration was ready to transform Lagos by rethinking projects that will improve the wellbeing of the residents. The House of Assembly chamber was filled to the brim, as a large crowd of Lagos residents, comprising leaders and members of the ruling All Progressives Congress (APC), State Executive Council members, traditional rulers, workers, traders, artisans, students and stakeholders in the private sector, witnessed the budget presentation.