Lagos Assembly Passes N1.7tn Budget For 2022

• Lagos Assembly Passes N1.7tn Budget For 2022

EKO HOT BLOG reports that the Lagos State House of Assembly on Wednesday evening passed the year 2022 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, Mudashiru Obasa, after a presentation of the report by Chairman of the Committee on Economic Planning and Budget, Gbolahan Yishawu.

Read Also: Lagos State To Collaborate With UK On Exchange Training Programme

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

He said the leftover was rolled into a ‘contingency fund’ in the year 2022 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.

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.

You May Also Like: Travelers Beware Lagos Airport Car Park Unsafe For Vehicle

Click to watch our video of the week:

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611