The Lagos State House of Assembly announced on Monday, December 12th, that they had passed a total of ₦1,768,014,155,285 for the year 2023 budget.
Governor Babajide Sanwo-Olu had submitted a N1.69 trillion ‘budget of continuity’ to the House in October.
While receiving the proposal from the Governor, Speaker of the state House of Assembly, Mudashiru Obasa had urged that the 2023 budget “should have more human face, be targeted at reducing poverty and improving the welfare of the residents of the State as part of the THEMES agenda of the administration.”
Obasa, expressed appreciation at the way his colleagues handled the Appropriation Bill with doggedness, collective sacrifice and swiftness.
A breakdown of the approved budget size showed the sum of: N748,096,508,571 as Recurrent expenditure and N1,019,917,646,713 as Capital expenditure for the year ending December 31, 2023.
A part of the breakdown for the sectoral allocations also showed 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 and 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, who presided over the plenary, said the passion with which the lawmakers processed the bill for passage showed that they loved Lagos and wanted it to move forward at all odds.
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 elections.