Lagos Assembly Passes N1.046tr Budget
The Lagos State House of Assembly has passed the state’s 2018 Appropriation bill of N1, 046 trillion into law.
The passing of the budget was sequel to the adoption of the report and recommendations of the House Ad hoc Committee on Budget and Economic Planning, headed by Hon. Gbolahan Yishawu as the resolution of the House.
In the passed budget, the House approved the sum of N347, 038, 938, 872 billion as total recurrent expenditure from the Consolidated Revenue Fund and N699, 082, 242, 808 billion as the total capital expenditure from the Development Revenue Fund for the year ending Dec. 31, 2018.
Presenting the committee report, Hon. Yishawu advised that effort should be made to reduce total overhead cost of the state.
The lawmakers commended the ad hoc committee for a job well done but called for quick modification of the Private-Public Partnership (PPP) policy of the state government.
The Acting Chairman, House Committee on Physical Planning and Urban Development, Hon. Setonji David said: “There are so many arrangement going on in PPP that the House does not know about.”
On his own part, the Deputy Majority Leader, Hon. Muyiwa Jimoh explained that PPP should be on its own and should not operate under any ministry.
The Speaker of the House, Rt. Hon. Mudashiru Obasa also commended Yishawu and members of the committee for its thorough scrutiny of the budget within a short time frame.
The House, following a voice vote conducted by the Speaker, Rt. Hon. Mudashiru Obasa thereafter, passed the appropriation bill on each sectoral allocations for Ministries, Departments and Agencies.
The Speaker later directed the Acting Clerk of the House, Mr Azeez Sanni to send a clean copy of the bill to Gov. Akinwnmi Ambode for his assent.
Recalled that Governor Akinwunmi Ambode on Dec. 11, 2017 presented a proposed N1.046tn “Budget of Progress and Development’’ to the Assembly.
