Lagos Assembly passes N1.768 trillion 2023 budget

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The Lagos State House of Assembly on Monday passed the 2023 budget of N1.768 trillion.

The Lagos State House of Assembly on Monday passed the 2023 budget of N1.768 trillion.

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A breakdown of the budget shows the sum of N748 billion as recurrent expenditure and N1.019 trillion as capital expenditure.

A total of N3.2 billion was approved as the new Overhead Cost of the Office of Civic Engagement for drug abuse advocacy.

The sum of N802 million was approved as the new Capital Expenditure of the Ministry of Economic Planning & Budget while N1.2 billion was approved as the new Overhead Cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.

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

While receiving the proposal from the governor, the speaker had urged that the 2023 budget “should have more human face, be targeted at reducing poverty and improving the welfare of the residents of the State as part of the THEMES agenda of the administration.”

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