The Lagos State House of Assembly has passed the N2.267 trillion 2024 budget presented to it by the state governor, Babajide Sanwo-Olu.
The budget was passed at a plenary presided over by the Speaker of the House, Mudashiru Obasa, in Lagos on Friday, January 5, 2024.
“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 totalling a budget size of N2,267,976,120,869 for the year ending 31st December 2024 be passed into law.
“This estimate is hereby passed into law,” Obasa was quoted as saying in a statement issued by the Speaker’s Chief Press Secretary, Eromosele Ebhomele.
READ ALSO: Sanwo-Olu presents N2.2trn ‘Budget of Renewal’
Obasa, however, commended the lawmakers for their dedication and cooperation at ensuring a quick passage of the Appropriation Bill.
He directed the Clerk of the House, Olalekan Onafeko, to forward a clean copy of the approved budget to Governor Sanwo-Olu for assent.
Prior to the passage of the budget, the Chairman of the Joint-Committee on Budget and Finance, Sa’ad-Lukman Olumoh, had presented a report containing some recommendations to the House.
Among the recommendations was 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.
Obasa, during the presentation of the budget by the governor, had urged the government to ensure a functional budget.
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