Lagos lawmakers approve N1.163trillion budget for 2021

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A budget of N1.163trillion has been passed by the Lagos State House of Assembly yesterday, for the year 2021.

The budget titled: “Budget of Rekindled Hope”, was passed after weeks of deliberations, interactions and defence of the budget proposal by the Ministries, Departments and Agencies (MDAs).

A report of the Appropriation Committee was presented during plenary by the Chairman of the Joint Committee on Economic Planning and Budget and Finance, Gbolahan Yishawu (Eti Osa 2).

While Capital Expenditure stands at N702, 94billion., recurrent Expenditure is N460.6billion.

Governor Babajide Sanwo-Olu on November 9 presented budget estimates of N1.155 trillion to the House of Assembly for approval for the 2021 fiscal year.

 

Fatimah Oyesanmi