Lagos Assembly Passes N1.768trn 2023 Budget

Lagos State House of Assembly on Monday passed a total of N1,768,014,155,285 as the budget for 2023 with the Speaker,  Hon. Mudashiru Obasa, thanking the lawmakers for their collective sacrifice and the swiftness with which the Appropriation Bill was handled.

A breakdown of the approved budget size shows the sum of N748.096 billion as recurrent expenditure and N1.019 trillion as capital expenditure for the year ending 31st December, 2023.

A part of the breakdown for the sectoral allocations also shows that N3.228 billion was approved as the new overhead cost of the Office of Civic Engagement for Drug Abuse Advocacy.

The sum of N802,987,206 was approved as the new Capital Expenditure of the Ministry of Economic Planning and Budget while N1.200 billion was approved as the new overhead cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.

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.

He also expressed 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 election.

Governor Sanwo-Olu had in October presented the sum of N1.69 trillion ‘budget of continuity’ to the House.