Lagos State House of Assembly on Tuesday approved N1.25 trillion as an amendment to the 2021 budget.
The approval followed a request brought to the House by Governor Babajide Olusola Sanwo-Olu recently.
It was made through a voice vote of members at the sitting presided over by the speaker, Hon. Mudashiru Obasa.
Obasa, thereafter, ordered the clerk of the House, Mr. Olalekan Onafeko, to pass a clean copy of the report to the Governor for his assent.
Governor Sanwo-Olu had in September, 2021 requested the House to approve the amendment to this year’s Appropriation Law of N1.164 trillion passed by the lawmakers on December 29, 2020.
Obasa said the governor was requesting the House to authorise the reordering of N460.58 billion to N496.26 billion for the recurrent expenditure; and N702.93 billion to N759.59 billion for the capital expenditure.
During the deliberations leading to the passage of amended law, the chairman of the House Committee on Budget and Economic Planning, Hon. Gbolahan Yishawu, read the various sectoral allocations and announced the new appropriation law as N1,256,567,592,651 trillion.
According to Yishawu, a sum of N513,343,338,737 was approved for recurrent from the consolidated revenue fund.
He added that a sum of N743,224,253,914 from the Development Fund was approved for capital expenditure both for the year ending December 31, 2021.