Governor Babajide Sanwo-Olu of Lagos is today signing the state’s 2020 budget size of N1.168 trillion.
The budget was passed by the State House of Assembly on Monday, December 30, 2019 following the presentation of a report by the joint committee of the House on Appropriation and Finance.
The report was presented Gbolahan Yishawu, chairman of the House Committee on Budget and Economic Planning.
The approved budget contained 78 amendments as recommended by the joint committees and approved by the House through a voice vote conducted by Mudashiri Obasa, the speaker of the house.
With the amendments, the approved budget contained N451, 528, 914, 805 billion from the Consolidated Revenue fund as the recurrent expenditure and N711, 032, 979, 185 Billion from Development Fund as the total capital expenditure.
The total budget for the year ending December 31, 2020 is now N1.168, 561, 893, 990 trillion as against N1.168, 562 proposed by the governor.
Governor Sanwo-Olu had presented a budget of N1.168 trillion for year 2020 on Friday, November 8, 2019 with education, and healthcare as top priorities.
….More details later.
