The Lagos State House of Assembly has approved the sum of N1.163 trillion, as the total budget allocation for 2021.
The recent development indicates an increase of N8.5 billion from the amount originally presented for consideration to the house.
Recall that Lagos State Governor, Babajide Sanwo Olu, on the 9th of November 2020, presented the state budget tagged “Budget of Rekindling Hope,” worth N1.155 trillion, to the State House of Assembly.
The budget earmarked N460.6billion for recurrent expenditure, while capital expenditure stands at N702, 94billion.
The bill was passed after the report of the Appropriation Committee was presented during plenary by the Chairman of the Joint Committee on Economic Planning and Budget and Finance, Gbolahan Yishawu (Eti Osa 2).