Lagos State House Of Assembly Passes N1.76trn 2023 Budget.

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The Lagos State House of Assembly, on Monday, passed a total of N1,768,014,155,285 as the state budget for 2023.

The Speaker of the House, Mudashiru Obasa, according to a statement issued by his Chief Press Secretary, Mr Eromosele Ebhomele, thanked the lawmakers for their sacrifice and the swiftness with which the Appropriation Bill was handled.

A breakdown of the approved budget size showed that recurrent expenditure was N748,096,508,571 and the capital expenditure was N1,019,917,646,713 for the year ending on December 31, 2023.

Obasa, who presided over the plenary, 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 residents of the state would show their satisfaction with the lawmakers and the All Progressives Congress by voting for candidates of the party in Lagos and at the centre during the forthcoming elections.

In the breakdown for the sectoral allocations, N3,228,396,960 was approved as the new overhead cost of the Office of Civic Engagement for drug abuse advocacy and 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 same ministry.

The PUNCH had earlier reported that Governor Babajide Sanwo-Olu, in October presented N1.69 trillion budget tagged ‘Budget of Continuity’ to the House.

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