The Lagos State House of Assembly has passed a total of N2,267,976,120,869 as the 2024 budget.
At a Plenary on Friday presided over by the Speaker, Mudashiru Obasa and monitored by our Correspondent, the budget representing 58 percent Capital Expenditure and 42 percent Recurrent Expenditure was approved following a unanimous voice vote by all the lawmakers present at the sitting.
According to him, “A bill for a law to authorise the issuance and appropriation of N952,430,566,998 from the Consolidated Revenue Fund for Recurrent Expenditure and N1,315,545,553,871 from Development Fund for Capital Expenditure thereby totaling a budget size of N2,267,976,120,869 for the year ending 31st December, 2024 be passed into law,
The Speaker commended the lawmakers for their dedication and cooperation at ensuring a quick passage of the Appropriation Bill while directing the Clerk of the House, Barr. Olalekan Onafeko, to forward a copy of the approved budget to Governor Babajide Sanwo-Olu for assent.
Earlier, Hon. Sa’ad Olumoh, chairman of the joint-committee on Budget and Finance, presented a report containing some recommendations to the House.
Among the recommendations is that the Public Works Corporation, the Water Corporation and the state-owned tertiary institutions be placed on first-line charge to enable them to perform optimally.