Members of the Lagos State House of Assembly on Monday passed a total of ₦1,768 trillion as the budget for the 2023 financial year.
A breakdown of the approved budget size indicates that N748 billion is for recurrent expenditure while N1 trillion is for capital expenditure.
For sectoral allocations, N3.2 billion was approved as the overhead cost of the Office of Civic Engagement for drug abuse advocacy.
The sum of N802,987,206 was approved as the capital expenditure of the Ministry of Economic Planning and Budget, while N1.2 billion was approved as the overhead cost (Social Intervention
and Humanitarian Programme) in the Ministry of Economic Planning and Budget.
The Speaker of the House, Rt (Hon) Mudashiru 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 Lagos State.
Obasa also expressed the hope that residents of the state would show their satisfaction with the lawmakers and the All Progressives Congress (APC) by voting for candidates of the party in Lagos and at the centre during the forthcoming general elections.
WesternPost reports that Governor Babajide Sanwo-Olu, in October presented the sum of N1.69 trillion ‘Budget of Continuity’ to the House.