Governor Akinwunmi Ambode of Lagos state has submitted a budget proposal of N812.998 to the House of Assembly.
Governor Akinwunmi Ambode
The budget size is broken into N300 billion for recurrent expenditure and 512.46 billion as capital expenditure.
The budget also has a recurrent to capital ratio of 63-37.
The governor also told the lawmakers that the budget would make provision for commencement of the 4th Mainland Bridge first proposed by former Governor Babatunde Fashola.
The governor also expressed excitement that the state is now part of the oil-producing states in the country and will also be benefiting from the 13 percent derivation received by states in the Niger Delta