The Lagos State Ministry of Budget and Economic Planning (MEPB) has commenced discussions on the preparation of the Y2018 Budget with all Ministries, Departments and Agencies (MDAs), while submission and defence will start from Wednesday, 1st November to 8th November 2017.
According to a circular issued by the Permanent Secretary in the Ministry, Mr Abayomi Kadri, the State Government recently embarked on series of Financial Management Reforms with major emphasis on revenue generation in view of the dwindling revenues accruing to Lagos from the Federation Account.
It stated that the Government is therefore committed to growing the State’s IGR with the revenue reform which is expected to promote the efficient and effective collection and service delivery by MDAs in order to sustain the developmental programmes, projects and structures that have already been put in place.
Kadri further stated that the overarching policy documents that drive the Annual Budget still remains the Lagos State Development Plan (LSDP) and Sustainable Development Goals (SDG).
However, he noted that the present administration has identified Environment, Transportation and Energy as priority areas for Y2018 budget while the Y2017 Budget focus on Environment, Transportation, Energy, Security, Infrastructure Development (Road), Job Creation, Education, Sports, Economy (including Agriculture and tourism), Health, Social Welfare and Justice still subsist.
He said that the MEPB will continue to maintain the established international standard of Nine (9) Classification of Functions of Government (COFOG) with a view to engender effective tracking of the budget, and also ensure that a robust and critical evaluation of programmes and projects is adopted in order to add value to the well-being of the Citizens.
While soliciting for the cooperation of everyone in view of the time constraint, Kadri, enjoined all MDAs to review their strategies and strictly follow the reformed formats in the presentation of Y2018 budget proposals and also urged them to contact the Director of Budget, MEPB for any further clarifications.
It would be recalled that Y2018 Budget preparations started with a Consultative forum which was organized by the Ministry in the three (3) Senatorial Districts, while the State House of Assembly (LAHA) also engaged Stakeholders’ at meetings across the Forty (40) Legislative Constituencies.