The Lagos State House of Assembly has passed a total of ₦1,768,014,155,285 as the budget for 2023.
A breakdown of the approved budget size shows the sum of N748,096,508,571 as Recurrent expenditure and N1,019,917,646,713 as capital expenditure for the year ending 31st December, 2023.
A part of the breakdown for the sectoral allocations also shows that N3,228,396,960 was approved as the new overhead cost of the office of civic engagement for drug abuse advocacy.
The sum of N802,987,206 was approved as the new capital expenditure of the Ministry
of Economic Planning & Budgetwhile N1,200,000,000 was approved as the new Overhead Cost (Social Intervention
and Humanitarian Programme) in the Ministry of Economic Planning and Budget.
The Speaker, Rt. Hon. Mudashiru 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 Lagos State.
He also expressed optimism 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.
