The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, took a significant step on Monday by assigning the 2024 Appropriation Bill, presented last Wednesday by Governor Babajide Sanwo-Olu, to a joint committee of the House for meticulous examination.

Dr. Obasa urged the joint committee on Economic Planning and Finance to dedicate their efforts over the next three weeks to produce a well-scrutinized budget, emphasizing the potential benefits for the people of Lagos State.

During the plenary, presided over by the Speaker, the N2.24 trillion budget successfully passed its second reading. The budget comprises a Capital Expenditure of N1.224 trillion and a Recurrent Expenditure of N1.023 trillion. Lawmakers, expressing their views, commended Governor Sanwo-Olu for presenting a pragmatic estimate that could prove effective with careful consideration of certain parameters.

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Hon. Sa’ad Olumoh, the chairman of the Committee on Economic Planning, highlighted that the budget addresses issues stemming from the removal of subsidy and changes in exchange rates. He emphasized the need for the budget to minimize wastage.

Chairing the Finance Committee, Hon. Femi Saheed stated that the budget signifies Lagos’ departure from heavy reliance on federal allocations. Meanwhile, Hon. Kehinde Joseph urged the budget to address situations where government agencies operate from rented buildings.

Hon. Sanni Okanlawon characterized the proposal as a developmental budget, specifically targeting ongoing projects such as the red and purple rail lines.

Deputy Majority Leader Adedamola Richard Kasunmu emphasized that the budget could become self-sustaining and realistic if implemented according to the Speaker’s guidance during the budget presentation. He stressed the importance of prioritizing health and education.

Hon. Desmond Elliot called for enhancements in the budget for social protection to effectively reach the people. Meanwhile, Hon. Nureni Akinsanya suggested streamlining the application process for Certificates of Occupancy to generate more revenue for the government.


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