Figure represents aggregate of first and second quarter performance
Governor Babatunde Fashola of Lagos State, on Wednesday, said the state government had recorded 75 percent budget performance in the first half of 2012.
Speaking to journalists shortly after the state executive council reviewed the budget in Ikeja, he said that the figure represented an aggregate of 65 percent first quarter performance and 85 percent second quarter performance.
Fashola said that although the performance fell short of the state government?s projection for the period under review, it showed progress in the face of economic challenges.
?It is not where we want to be; our aim is to be, at least, at 90 percent, but when one contextualises it in the environment that we operate, one cannot help but commend the performance,? he said. ?We are part of a global human family; Nigeria is part of it and Lagos is a subset of the country. So, the state is not in anyway insulated from the present challenges of the global economy.
“Our half year performance shows that we are clearly making progress, both on paper and in actual life.We will continue to work harder and improve our budget, despite the difficult times.?
The governor said that the capital expenditure component of the budget would get a boost in the remaining part of the appropriation year, with execution road, drainage, school and housing projects amongst others.
Fashola appealed to the state residents to support the government in the implementation of the projects by paying their taxes.
The state Commissioner for Economic Planning and Budget, Ben Akabueze, said that scarcity of funds was a challenge to achieving budget projections.
According to him, the state realised 85 percent of the revenue it projected for the period under review, and much more would have been achieved with increased revenue.
?We will continue to focus on the area of generating more revenue as to improve in our budget performance and bring more development to the state,? he said.
