Fashola yesterday said during the Q3 budget performance, that the state attained only 70%.
The Lagos State Governor Mr. Babatunde Fashola yesterday said during the Q3 budget performance, that the state attained only 70%. He defined budget performance as contract executed and paid for. He put the average for the year at 71%. The Governor attributed the level of performance (less than anticipated) to revenue shortfall and delay in release of the said fund by the Federal Government. He pointed at the delayed reconciliation with NNPC as the major source of the problem.
Nigeria has a mono product economy- that is about 85% of the Nation’s revenue comes from crude oil. Agriculture is highly neglected by the various State Governments inspite of our arable land. Crude Oil should not contribute more than 20% of annual revenue.