The Lagos State Government has begun preparations for the 2023 budget with a five-day consultative forum in the five divisions of the state – Ikeja, Badagry, Ikorodu, Lagos Island, and Epe with the acronym IBILE.
The forum began on Tuesday with the Badagry division, held at the Aderemi Makanjuola Auditorium, Lagos State University (LASU), Ojo campus.
Then day two of the forum moved to the Ikeja division yesterday at the Eko FM multipurpose hall, LTV premises, Agidingbi. It will continue in other divisions next week.
Reviewing the 2022 mid-year budget performance, Economic Planning and Budget Commissioner Mr. Sam Egube said: “Our state achieved 80 percent of revenue and that was quite phenomenal, especially considering the challenges we face as a country.
“Looking at the total Internally Generated Revenue (IGR), we have N346 billion, compared to N451 billion, achieving 77 percent performance; total budget – out of an expectation of N880 billion, we have spent about N675 billion, achieving 77 percent performance.
“It is our aspiration that we will move this performance as we move into the second quarter to rev it up to over 80 percent. You will note that over the last three years, our state has achieved very strong budget performance in the neighborhood of over 80 percent and that is something we will continue to drive irrespective of the challenges we face as a nation.”
The Special Adviser to the Governor on Economic Planning and Budget, Aare Adebayo Sodade, said Governor Babajide Sanwo-Olu’s administration believed in grounded consultation on the budget-making process, to ensure its transparency and acceptability.
