Governor of the western Nigerian state of Lagos, Babatunde Fashola said the delay in remitting themonthly allocation to the state by the Federal Government has affected the state’s budget performance.
Lagos recorded 70 percent budget performance in the third quarter and an aggregate of 71 percent performance for the year.
Fashola spoke to newsmen during the third quarter budget review at the State House, Ikeja, Lagos, Southwest Nigeria on Thursday.
“We recorded 70 percent in the third quarters. It is a slight dip in the overall aggregate of 72 percent mid-year review to 71 percent now. But it is a larger dip from 83 percent for the second quarter. What is positive here is that what we report as budget performance is the combination of work done and payment made.
Fashola:blames budget performance on delays in Federal allocations
“There is a lot of work that has been completed, that we have not paid for. The core reason for that is the revenue shortfall we have been experiencing and delay in revenue that is coming from the federal government. This includes delay in the remittances of FAAC allocations and lack of agreement on NNPC accounts at the FAAC meetings. I think over two months now, between August and September, the FAAC payment did not come on time,” he stated.
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