Lagos Assembly passes N1.16tn 2021 budget

The Lagos State House of Assembly on Tuesday passed into law the budget size of N1,163,522,460,717.

While N460.6bn was approved for recurrent expenditure, N702.9bn was for capital expenditure.

The 2021 budget, tagged, ‘Budget of Rekindled Hope’ is aimed at charting a definite course of change to meet with recent events of global and national proportions, particularly the COVID-19 pandemic and the aftermath of the #EndSARS protest.

A statement said the Co-Chairman of the Joint Committee on Economic Planning and Budget and Finance, Gbolahan Yishawu, while presenting a report of the committee, noted that his team got commitment from revenue generating agencies in the state.

According to him, the proposed revenue is achievable if necessary funds that will enable delivery on projected revenue estimates are available.

The lawmakers, after debating the presentation, adopted the recommendations as the resolution of the House.

The Speaker, Mudashiru Obasa, directed the Acting Clerk of the House, Mr Olalekan Onafeko, to send a clean copy to the Governor, Babajide Sanwo-Olu, for assent. Punch