House speaker promises not to delay passage of Sanwo-Olu’s N3 trillion budget
Speaker Mudashiru Obasa says Lagos assembly lawmakers will not delay the passage of the 2025 budget estimate of N3.005 trillion.
Mr Obasa gave the assurance shortly after Governor Babajide Sanwo-Olu presented the 2025 budget estimate to the parliament in Ikeja on Thursday.
The budget comprises a total revenue of N2.6 trillion and a deficit financing of N408.92 billion.
Mr Obasa said the lawmakers would commence work on the budget in earnest to ensure speedy passage in the interest of the state.
Mr Obasa said, “As we hope that the 2025 budget will be of great benefit to the people of Lagos state. We, however, appeal to the governor and the people of the state to give us sufficient time to enable the House to do a thorough job on a financial document that has great influence on the lives of the people.
“Also, the Assembly will not delay the passage of the budget. But we will be interested in placing a high premium on the need to ensure that the interests of the people of the state are protected, socio-economically and politically.”
The budget comprises a recurrent expenditure of N1.239 trillion, 41 per cent, and capital expenditure of N1.766 trillion, 59 per cent.
According to Mr Sanwo-Olu, the budget will be sourced from total revenue of N1.97 trillion and total federal transfers of N626 billion.
(NAN)
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