Lagos State House of Assembly has approved the request of Governor Babajide Sanwo-Olu to revise the 2021 Appropriation Bill.
The Chairman of the House Committee on Budget and Economic Planning, Gbolahan Yishawu, read the sectoral allocations during yesterday’s plenary and announced the new Appropriation Bill as N1.25 trillion.
According to Yishawu, N513 billion was approved for recurrent expenditure from the Consolidated Revenue Fund; and N743 billion from the Development Fund was approved for capital expenditure for the year ended December 31, 2021.
Speaker Mudashiru Obasa read out the committee’s recommendation and it was approved through a voice vote.
He then ordered the Clerk, Olalekan Onafeko, to pass a clean copy of the report to the governor for assent.
The Assembly received Governor Sanwo-Olu’s request to amend the 2021 Appropriation Law in September, nine months after it was passed.
The House then adjourned sitting till October 11.