By Oyetunji Abioye (The Punch Newspaper)

 

Lagos State Governor, Mr Akinwunmi Ambode (middle), signing the 2017 Appropriation Bill into Law while Commissioner for Finance/Economic Planning & Budget, Mr Akinyemi Ashade (right) and Chairman, House Committee on Appropriation, Hon. Rotimi Olowo (left), watch at the Conference room, Lagos House, Ikeja, Lagos State. Photo | Lagosstate.gov.ng

 

The Lagos State Government spent the sum of  $0.92 billion on infrastructural development projects in the 2016 fiscal year, the Commissioner, Ministry of Economic Planning and Budget, Mr Akinyemi Ashade, said.

Ashade put the budget performance for 2016 at 80 per cent with a total revenue $1.39 billion

He stated that the total internally-generated revenue and capital expenditure ratios were $1 billion and 55:45, respectively.

 

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The commissioner stated these while giving the account of stewardship of his ministry’s activities and achievements in the last one year.

In a statement made available to our correspondent on Sunday, Ashade was quoted as saying that the amount spent on capital development was borne out of the administration’s desire to drive the implementation of projects and programmes that would lead to the good performance of the budget and encourage focus on patronage of local contractors to boost job creation.

He listed some of the projects as: the completion and commissioning of 114 roads in partnership with local governments and local council development areas, the construction of overhead flyover bridge at Abule Egba and Ajah, removal of six roundabouts along Lekki-Epe Express axis and replacing them with traffic light alternation system, Bus Rapid Transport garage in Ikeja, among others.

Ashade also gave the outcome of the recently conducted 2016 Household and Poverty Headcount Survey.