LAGOS - The Lagos State Government has requested from the State House of Assembly an approval for N16Billion for infrastructural development.

This request was contained in a letter written to the State House of Assembly by Governor Babatunde Raji Fashola.

The letter which was read on Monday on the floor of the house by the clerk/Perm secretary of the Assembly, Mr. Olatunji Taiwo solicited for the lawmakers’ approval for removal of N16 Billion from the state recurrent expenditure in the year 2008 budget in order to meet up with the capital expenditure.

Governor Fashola explained that in the year 2008 budget, the recurrent expenditure remained at 40 per cent, explaining that some unutilized provisions in the recurrent expenditure be move to complement capital expenditure.

His Excellency remarked that the year 2008 budget remained unchanged, adding that the proposed removal of the N16 Billion from recurrent to capital expenditure is to ensure fiscal discipline and enhance infrastructural development.

Appraising the 2008 mid year budget performance, the governor stated that there was an overall performance of 70.65 per cent as at June 30th 2008 .

He explained that his administration had targeted 90 percent budget performance for 2008 in order to meet up with the desired high performance.