Home News Lagos targets 95% budget performance by year end

Lagos targets 95% budget performance by year end

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The Lagos State government has expressed the hope that the 2022 budget would hit 95 percent performance by the end of the year. This is as it continues to engage stakeholders in preparation for next year’s financial plan.

About a fortnight ago, the Commissioner for Economic Planning and Budget, Mr Sam Egube reviewed the Y2022 total budget performance at achieving 77 percent from the N675 billion expended from N880 billion and the total revenue realised  at 81 percent.

Egube, who was represented by Special Adviser to the Governor on Economic Planning and Budget, Aare Bayo Sodade at the ongoing Y2023 budget consultative forum for the Lagos Island division, said that the Sanwo-Olu administration has set must-achieve initiatives before May 2023 elapses, which was decided at one of the State Executive Council meetings.

He noted that with less than 280 days to the end of the present administration, some projects and initiatives in line with the T.H.E.M.E.S development Agenda would be completed.

He said: “For the 2022 budget, our revenue is performing at 81 percent and the total budget performance is 77 percent. We hope that towards the end of the year we will move closer to between 80 to 95 percent performance.

“There are about 28 ‘Must Deliver’ initiatives for the THEMES agenda to be completed before 29 May  2023 as agreed at the Lagos State Executive Council”.

Appreciating past and present Governors of the state, Oba of Igbobi-Sabe, Oba Owolabi Adeshina Adeniyi commended the Sanwo-Olu administration and urged the people to pray more for the governor as he continues to deliver people-oriented project and programmes.

The Consultative Forum is aimed at transparency to the states budgetary preparation process, and also an avenue for the government to update stakeholders on half year performance of the budget, as well as soliciting their views and inputs in it.

Other dignitaries in attendance include White Cap Chiefs representing the Oba of Lagos, Oba RIlwan Akiolu; Onisiwo of Abagbo and Tomoro, Oba Mohammed Musiliu Yussuff; Permanent Secretary, Ministry of Energy and Mineral Resources, Ms. Shola Shasore; Director of Budget, Mr. Ibrahim Bajomo; Local Government representatives; community and religious leaders, professionals; chairmen of Community Development Committee and Community Development Associations; trade groups; Non-Governmental Organisations; youth organisations; People Living With Disability; and the organised private sector.

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