The Lagos State House of Assembly has passed a budget for 2023 totaling 1,768,014,155,285 on Monday, with the Speaker, Rt. Hon. Mudashiru Obasa, thanking the legislators for their combined effort and the speed with which the Appropriation Bill was handled.
The approved budget amount is N748,096,508,571 as recurrent expenditure and N1,019,917,646,713 as capital expenditure for the fiscal year ending December 31, 2023.
A portion of the breakdown for sectoral allocations also reveals that N3,228,396,960 was authorized as the Office of Civic Engagement’s new Overhead Cost for drug misuse advocacy.
The Ministry of Economic Planning and Budget authorized a new capital expenditure of N802,987,206, while the Ministry of Economic Planning and Budget approved a new overhead cost (social intervention and humanitarian program) of N1,200,000,000.
Dr. Obasa, who presided over the session, said the members’ enthusiasm for the bill’s passing demonstrated their commitment to the advancement of Lagos State. The Senate has passed legislation to establish a public-private partnership regulatory commission.
He also expressed optimism that citizens of the state would demonstrate their support for the legislators and the All Progressives Congress (APC) by voting for APC candidates in Lagos and at the national level during the next election.
Governor Babajide Sanwo-Olu had in October presented the sum of N1.69 trillion budget of continuity to the House.
While receiving the proposal from the Governor, Speaker Obasa had urged that the 2023 budget “should have a more human face, be targeted at reducing poverty and improving the welfare of the residents of the State as part of the THEMES agenda of the administration.”# Lagos Assembly Passes ₦1.768Trn 2023 Budget
