Lagos Assembly passes 2018 Budget of N1.046trn into law

2nd February, 2018. 
Olaide Adedeji Reports


LAGOS State House of Assembly on Tuesday passed the state’s 2018 Appropriation bill of N1,046 trillion into law.
Governor Akinwunmi Ambode had presented the proposed the budget tagged, “Budget of Progress and Development,” on December 11, 2017, to the House at a special sitting presided over by the speaker, Hon. Mudashiru Obasa.
This followed the adoption of the report and recommendations of the House Adhoc Committee on Budget and Economic Planning, headed by Hon. Gbolahan Yishawu.
In the approved budget, the House authorised the sum of N347,038,938, 872bn as a total recurrent expenditure from the Consolidated Revenue Fund and the sum of N699,082,242,808 bn as the total capital expenditure from the Development Revenue Fund for the year ending December 31, 2018.
Yishawu, while presenting the committee report, however, said that effort should be made to reduce the total overhead cost of the state.
Lawmakers, including Acting Chairman, House Committee on Physical Planning and Urban Development, Hon. Setonji David; Deputy Majority Leader, Hon. Muyiwa Jimoh; commended the ad hoc committee for a job well done, even as they urged for quick modification of the Private-Public Partnership (PPP) Policy of the state government.
According to Setonji, the policy needs quick modification because there are so many arrangements about it that the House is not in the know. “There are so many arrangements going on in PPP that the House does not know about,” the lawmaker said.
In the opinion of Hon. Jimoh, the PPP should be on its own and should not operate under any ministry.
Speaking on the budget, Speaker Obasa also commended Hon. Yishawu and members of the committee for their thorough scrutiny of the budget within a short time frame, and directed the Acting Clerk of the House, Mr Azeez Sanni, to forward a clean copy of the budget bill to Governor Ambode for his assent.
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