Lagos State Governor Babajide Sanwo-Olu has presented the state 2021 budget estimate of N1,155,022,413,005.
The budget was presented to the Lagos State House of Assembly on Tuesday, November 10.
Sanwo-Olu said as revenues continue to dwindle, it is important for the government to come up with ways of keeping the costs of governance at a minimum.
The governor said the budget estimate was prepared in consideration of the twin challenges that befell the state – COVID-19 pandemic and the recent protest that got hijacked by hoodlums which resulted in the destruction of properties.
He, however, expressed optimism that the state would bounce back as it makes the protection of lives and properties its priority.
Sanwo-Olu urged all business owners affected by the recent #EndSARS protests to take advantage of the state’s employment trust fund.
Below is a sectoral breakdown of the budget:
1. General Public Services 136,278,189,622.39
i Science and Technology 28,272,741,669.00
ii Other General Public Services 108,005,447,953.39
2. Public Order and Safety 32,757,159,406.85
3. Economic Affairs 381,852,747,856.72
i. Agriculture 18,311,948,584.57
ii. Commerce 41,989,851,318.18
iii. Toursim, Art & culture 6,012,710,830.00
iv. Energy and Mineral Resources 32,585,739,585.09
v Transportation 98,931,628,325.88
vi Infrastructure – Works Family 172,238,545,968.00
vii Waterfront 11,782,323,245.00
4. Environment 50,934,105,592.09
i Drainage 11,936,556,866.00
ii Other Environmental Services 38,997,548,726.09
5. Housing and Community Amenities 40,280,489,878.68
6. Health 118,360,479,650.50
7. Recreation, Culture and Religion 5,170,065,144.74
8. Education 143,655,493,855.89
9. Social Protection 9,156,091,555.64
10. Contingency Reserve (Including Special Expenditure – Statewide and Special Expenditure -Others) 20,554,523,753.69
11. Loans (Repayments, CDSA & Debt Servicing) 166,215,862,798.26
12. Personnel Cost (Statewide – Pension etc) 49,807,203,890.38
13. Grants & Counterpact Fund
Y2021 PROPOSED BUDGET
A. TOTAL REVENUE 962,528
B. TOTAL INTERNALLY GENERATED REVENUE 795,744
i. INTERNALLY GENERATED REVENUE 732,659
ii. CAPITAL RECEIPTS 63,085
iii FEDERAL TRANSFER 166,784
C RECURRENT EXPENDITURE (DEBT AND NON-DEBT) 451,750
i RECURRENT DEBT 35,287
ii RECURRENT NON DEBT 416,463
a) Total personnel cost 174,745
b) Total overhead 241,718