The total budget size of ₦347, 038, 938, 872 to be funded from the Consolidated Revenue Fund, and ₦699, 082, 242,808.00 from the Development Fund for both capital and recurrent expenditure for the year ending 31st December 2018.
Highlights of the budget
Capital Expenditure will gulp ₦699 billion
Recurrent Expenditure will take ₦347 billion
This represents a Capital/Recurrent ratio of 67 percent to 33 percent and a 28.67 percent increase over Y2017 budget
The capital expenditure would be devoted to the
Construction and completion of Agege Pen Cinema flyover.
Complete the on-going Oshodi-Airport road. Re-develop Eti-Osa-Lekki-Epe expressway.
Construct eight-kilometre regional road to connect Victoria Garden City (VGC) and Freedom Road in Lekki Phase I among others.
General Public Services got ₦171,623bn, representing 16.41 percent.
Public Order and Safety, ₦46.612bn, representing 4.46percent.
Social Protection got ₦8.042billion representing 0.77percent
On Housing, there are provisions for completion of on-going projects especially those at Gbagada, Igbogbo, Iponri, Igando, Omole Phase I, Sangotedo and Ajara-Badagry under the Rent-to-Own policy, among others.
The Lagos State Government has also started the distribution of the 2018 Land Use Charge demand notices for properties across the state to enable it to boost its Internally Generated Revenues (IGRs) to boost infrastructure development.
The Governor promised that the budget would be used to consolidate on the achievements recorded in infrastructure, education, transportation/traffic management, security and health sectors, among others.