LAGOS STATE GOVERNMENT REFUNDS 145 FORMER SUBSCRIBERS OF EGAN HOUSING ESTATE
admin - Increases capital expenditure
By Oyebola Owolabi
The Lagos State House of Assembly has amended the N2,267,976,120,869 Appropriation Law of 2024.
The reordering follows a August 9 letter sent by Governor Babajide Sanwo-Olu.
The House, at plenary on Thursday, gave the approval after the Chairman of the Economic Planning and Budget committee, Lukman Olumoh, presented its report and recommendations, which were adopted as the House’ resolution.
Though the total budget size remains the same, the recurrent expenditure was reduced from N952,430,566,998 to N935,377,028,422 while the capital expenditure was increased from N1,315,545,553,871 to N1,332,599,092,448.
The Speaker, Mudashiru Obasa, thereafter directed the Clerk of the House, Olalekan Onafeko, to forward a clean copy of the bill to the governor for his assent.
Prior to the passage of the reordered budget, Olumoh reminded the House that Governor Sanwo-Olu, in his letter, explained that the rationale for the request to redistribute the budget included the need to boost the appropriation to some Ministries, Agencies and Parastatals (MDAs).
The governor’s request letter also emphasised the need to meet the government’s commitment to the residents through the budget.
