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Lagos Assembly Passes N1.064tn Budget For 2018

Lagos Assembly Passes N1.064tn Budget For 2018

The Lagos State House of Assembly on Tuesday passed the state’s 2018 appropriation bill of N1,046tn into law.

The passage followed the adoption of the report and recommendations of the House Adhoc Committee on Budget and Economic Planning, headed by Hon. Gbolahan Yishawu. The house approved N347. 039bn as the total recurrent expenditure from the consolidated revenue fund.

It also approved N699. 082bn as the total capital expenditure from the development revenue fund for the year ending December 31, 2018.

While presenting the committee’s report, Yishawu said that efforts should be made to reduce the total overhead cost of the state. The lawmakers, who took turns to commend the nine-man ad hoc committee for a job well done, however, called for quick consideration of the Private-Public Partnership (PPP) scheme.

Hon. Setonji David, the Acting Chairman, House Committee on Physical Planning and Urban Development said: “There are so many arrangements going on in PPP that the house does not know about’’.

The Deputy Majority Leader, Hon. Muyiwa Jimoh, said that PPP should be on its own and not operate under any ministry. The Speaker of the House, Hon. Mudashiru Obasa, also commended Yishawu and members of the committee for thorough scrutiny of the budget within a short time frame.

The Speaker of the House, Hon. Mudashiru Obasa, also commended Yishawu and members of the committee for thorough scrutiny of the budget within a short time frame. The house adjourned its plenary until February 1st.

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January 31st, 2018

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