Wale Jagun
The Lagos State House of Assembly has passed a total of ₦1,768,014,155,285 as the budget for 2023.
The budget was passed during the plenary session presided over by Speaker, Rt. Hon. Mudashiru Obasa on Monday, December 12, 2022.
Obasa after the passage commended the lawmakers for their collective sacrifice and the swiftness with which the Appropriation Bill was handled.
A breakdown of the approved budget size shows the sum of N748,096,508,571 as Recurrent expenditure and N1,019,917,646,713 as Capital expenditure for the year ending 31st December, 2023.
A part of the breakdown for the sectoral allocations also shows that N3,228,396,960 was approved as the new Overhead Cost of the Office of Civic Engagement for drug abuse advocacy.
The sum of N802,987,206 was approved as the new Capital Expenditure of the Ministry of Economic Planning & Budget while N1,200,000,000 was approved as the new Overhead Cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.
Obasa said the passion with which the lawmakers processed the bill for passage showed their love for the progress of Lagos State.
He also expressed hope that residents of the State would show 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 election.
The 2023 budget proposal of N1.69 trillion, tagged, ‘budget of continuity’ was presented by the Governor, Mr Babajide Sanwo-Olu in October.
