Thursday, December 9, 2021

Lagos Assembly approves N1.25 trillion as amended 2021 budget

The new 2021 appropriation law is N1,256,567,592,651 trillion.

• October 5, 2021
Lagos State governor, Babajide-Sanwo-Olu and Lagos State Speaker Mudashiru Obasa

The Lagos State House of Assembly on Tuesday approved a request by Governor Babajide Sanwo-Olu to amend the state 2021 budget to the tune of N1.25 trillion.

Mr Sanwo-Olu had asked the House in September 2021 to adopt a N1.164 trillion modification to this year’s Appropriation Law, reallocating N460.58 billion to N496.26 billion for recurrent expenditure and N702.93 billion to N759.59 billion for expenditure.

Speaker of the House Mudashiru Obasa presided over a voice vote which approved the amendment request and thereafter ordered the clerk to pass a clean copy of the report to the governor for assent.

During the deliberations, chairman of the House Committee on Budget and Economic Planning, Gbolahan Yishawu, read the various sectoral allocations and declared the new appropriation law as N1,256,567,592,651 trillion.

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