Tuesday, January 30, 2018

Lagos Assembly Approves Ambode’s N1.046trn Budget For 2018

The Lagos State House of Assembly on Tuesday passed the state’s 2018 budget of N1.046 trillion into law which was presented to it last December by Governor Akinwunmi Ambode.

The passage followed the adoption of the report and recommendations of the House Adhoc Committee on Budget and Economic Planning, headed by Hon. Gbolahan Yishawu.

During the passage of the appropriation bill, the Speaker of the House, Mudashiru Obasa, said N699 billion was appropriated for Capital Expenditure and N347 billion for Recurrent expenditure.

It was gathered that the Assembly endorsed the appropriation bill after Obasa conducted a voice vote on each of the sectoral allocations for Ministries, Departments and Agencies, MDAs.

Yishawu, while presenting the committee’s report, said that efforts should be made to reduce the total overhead cost of the state.

The lawmakers, who took turns to commend the nine-man ad hoc committee for a job well done, however, called for quick consideration of the Private-Public Partnership (PPP) scheme.