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By Sunday Ani, Lagos
The Lagos State House of Assembly on Monday passed a budget of ₦1,768,014,155,285 for the 2023 fiscal year.
A breakdown of the approved budget size has N748,096,508,571 earmarked for the recurrent expenditure, while N1,019,917,646,713 was equally set aside for the capital expenditure for the year ending 31st December 2023.
Also, the breakdown of the sectoral allocations indicates that N3,228,396,960 was approved as the new overhead cost of the Office of Civic Engagement for drug abuse advocacy, while N802,987,206 was approved as the new capital expenditure for the Ministry of Economic Planning & Budget, leaving N1,200,000,000 as the new overhead cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.
Speaker of the House Dr Mudashiru Obasa, who presided over the plenary, thanked his colleagues for their collective sacrifice and the swiftness with which the Appropriation Bill was handled.
He said the passion with which the lawmakers processed the bill for passage showed their love for the progress of the state.
He also expressed hope that Lagos residents would express their satisfaction with the lawmakers and the All Progressives Congress (APC) by voting for candidates of the party in Lagos, and at the centre during the forthcoming elections.
Governor Babajide Sanwo-Olu had, in October, presented a budget estimate of N1.69 trillion, christened a “budget of continuity” to the House.
While receiving the proposal from the Governor, Obasa had urged that the 2023 budget should have a more human face, targeted at reducing poverty and improving the welfare of the residents of the state as part of the agenda of the current administration.
