Lagos State Governor, Mr. Akinwunmi Ambode, has presented a budget of N852.13bn to the Lagos State House of Assembly.
The budget is lower than that of last year, which was N1.046trn.
Explaining the shortfall in the 2019 budget, Ambode said the budget performance of 2018 was put into consideration before preparing the 2019 budget.
“The overall 2018 budget stood at 60 per cent and that was put into consideration in preparing the 2019 budget.
“The 2019 budget is all-encompassing and it will cater for all Lagosians,” Ambode said.
Ambode said N462.757billion representing 54 per cent of the total budget had been earmarked for capital expenditure, while N389.560billion representing 46 per cent had been dedicated to recurrent expenditure.