La­gos records 67% first quar­ter budget per­for­mance

Daily Trust - - NEWS -

The La­gos State govern­ment yes­ter­day said it had achieved 67 per cent first quar­ter per­for­mance of its N489.6 bil­lion 2014 budget.

Gover­nor Ba­batunde Fashola gave the fig­ure in Ikeja while speak­ing with news­men af­ter the budget re­view meet­ing of the State Ex­ec­u­tive Coun­cil. He de­scribed the per­for­mance as im­pres­sive, say­ing the fig­ure was six per cent higher than the 61 per cent recorded in the cor­re­spond­ing pe­riod in 2013.

``The fig­ure is quite a jump from last year’s first quar­ter per­for­mance. This time in 2013, we were at 61 per cent. Now, we are at 67 per­cent. So we have moved up. If that is any in­di­ca­tion that the budget will per­form bet­ter this year, it will mean that we should ex­pect a bet­ter over­all per­for­mance than last year’s 85 per cent,’’ he said.

Fashola at­trib­uted the com­par­a­tively im­pres­sive budget per­for­mance to the co­op­er­a­tion of res­i­dents in the form of tax pay­ment. The gover­nor said the ex­e­cu­tion of projects such as schools and hos­pi­tals within the last quar­ter also con­trib­uted to the im­pres­sive per­for­mance of the budget.

Fashola said the state govern­ment could not af­ford to be com­pla­cent; as­sur­ing that it would work harder to en­sure bet­ter budget per­for­mance in sub­se­quent quar­ters.

The Com­mis­sioner for Eco­nomic Plan­ning and Bud­get­ing, Mr Ben Ak­abueze, on his part, said the 2014 budget did not en­vis­age a deficit as it was solely de­pen­dent on rev­enue.

He said that the govern­ment would try its best to meet its rev­enue tar­get for the year in or­der to ad­e­quately fi­nance the budget. (NAN)

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