cover

Breaking: Lagos Assembly Passes N1.758trn Budget For 2022

Breaking: Lagos Assembly Passes N1.758trn Budget For 2022

The Lagos State House of Assembly on Wednesday evening passed the Y2022 budget estimate with a slight increase of the grand total from the initial N1.38 trillion to N1.758 trillion.

The budget was passed at a sitting presided over by the Speaker of the House, Rt. Hon. (Dr) Mudashiru Obasa, after a presentation of the report by Hon. Gbolahan Yishawu, chairman of the Committee on Economic Planning and Budget.

Yishawu, after the plenary, explained that the total budget size passed has addition of left overs from the previous allocations in the 2021 budget.

He said the leftover was rolled into ‘contingency fund’ in the Y2022 budget.

He also put the Capital and Recurrent Expenditure ratio at 66:34.

While the recurrent expenditure is N591,280,803,486bn, the Capital expenditure is N1.166,915,843,358trn, which brings the budget total size to N1,758,196,44,844trn.

According to him the loans, bonds and ISPO funds are captured in the budget that was passed.

Speaking after the passage of the budget, Obasa thanked his colleagues for working assiduously to ensure that the appropriation bill was passed.

While wishing them a happy New Year celebration, Obasa prayed that God would continue to keep Lagos safe.

He urged them to also remain conscious of their safety as well as the safety of their neighbours.

society_admin

Recent Posts

Peter Obi, Atiku had nothing to offer -Doyin Okupe …says 2023 election was not rigged

Peter Obi, Atiku had nothing to offer -Doyin Okupe ...says 2023 election was not rigged…

7 hours ago

Access Bank Named Only Nigerian Company on Forbes 2024 World’s Best Employers List

Access Bank Named Only Nigerian Company on Forbes 2024 World’s Best Employers List   In…

1 day ago

Health, Insurance, And Entrepreneurship Lectures To Take Centre Stage At NASRE Foundation’s End- Of-Year Support To Ailing Journalists Others

Health, Insurance, And Entrepreneurship Lectures To Take Centre Stage At NASRE Foundation’s End- Of-Year Support…

1 day ago

ZENITH BANK HOLDS TECH FAIR, ‘FUTURE FORWARD 4.0’, IN LAGOS

ZENITH BANK HOLDS TECH FAIR, ‘FUTURE FORWARD 4.0’, IN LAGOS The Fourth Edition of the…

1 day ago

How Sports Can Help Boost Nigeria’s Greatness – Obasa

How Sports Can Help Boost Nigeria's Greatness - Obasa - commissioner says govt passionate about…

3 days ago

Adron Homes Welcomes New Executive, Emphasizing Commitment to Professional Excellence

Adron Homes Welcomes New Executive, Emphasizing Commitment to Professional Excellence In a strategic move to…

4 days ago