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Fashola Signs 2008 Appropriation Bill Into Law

Jan 28, 2008 - Lagos State Governor, Mr. Babatunde Fashola (SAN ) on Monday signed the 2008 Appropriation bill totaling N403,401,258,760.00 consisting of the sum of N159,627,033,481 recurrent expenditure and N243,774,225,279 as capital expenditure into law as passed by the State House of Assembly.

Addressing the gathering which consisted of members of the state executive and house of assembly at the conference room of the Governor’s office at Alausa at the signing ceremony, Governor Fashola said the passage of the bill by the House of Assembly represents a reenergizing of the process of governance.

He added that the 2008 budget was conceptualized top address infrastructural development of state in the three inter modal transportation sector, traffic management , the environment, housing ,jobs, poverty alleviation, agriculture, health and micro finance.

The budget is a plan and our ability to raise this plan depends on how well each and every one plays his role, the Governor counseled.

In his words: “we have determined the programme, we have applied the cost, we have projected on the revenue. Other arms that have critical roles and the Federal Government as a major institution must play their roles”.

The Governor lamented that some of the costs in the 2008 recurrent expenditure were as a result of policies introduced by the Federal Government last year on salary increases and increase in the prices of petroleum products without consultation.

He expressed hope that this year would witness more consistency in the application of policy statements by the Federal Government and the application of the constitution especially on fiscal matters.

Continuing, Governor Fashola said such consistency is being expected in area of excess crude funds so that various Governments can plan and implement with some measure of predictability and consistency.

He said: “the citizens have a role to play. We have done our bit, the other half is left for the citizenry in paying their taxes, levies as they fall due and as they are set, that is the tool we need to deliver on this budget”.

The Governor tasked the citizens to be law abiding and peaceful as it is only in a peaceful atmosphere that the government can deliver on its promises.

Speaking earlier, the Special Adviser on Political and Legislative Matters, Hon AbdulHakeem Abdul Lateef had described the passage of the policy driven. developmental and sustainable budget by the House of Assembly as highly historic.
The Appropriation law authorizes the issue and appropriation of the sum of One Hundred and Fifty Nine Billion, Six Hundred and Twenty Seven Million, Thirty Three Thousand, Four Hundred and Eighty One Naira only (N159, 627,033,481.00) from the Consolidated Revenue Fund and Two Hundred and Forty Three Billion, Seven Hundred and Seventy Four Million, Two Hundred and Twenty Five Thousand, Two Hundred and Seventy Nine Naira only (N243,774,225,279.00) from the Development Fund for the year ending 31 December 2008.

It would be recalled that Governor Babatunde Fashola (SAN) had presented the Year 2008 draft budget to the State House of Assembly on the 17th of December 2007, before its passage on January 24, 2008 by the State House of Assembly after an exhaustive debate.