BusinessDay
NigeriaDecides2023

Lagos Assembly passes N1.164trn 2021 budget

The Lagos State House of Assembly on Tuesday passed the state government’s N1.164 trillion budget for 2021.

The budget was endorsed after a report on plenary by Gbolahan Yishawu (Eti Osa 2), chairman of the joint committee on Economic Planning, Budget and Finance.

The legislature approved N460.587bn as recurrent expenditure from the Consolidated Revenue Fund and N702.935bn as capital expenditure from Development Revenue Fund.

Mudashiru Obasa, speaker of the House, disclosed that during parliamentary sessions, the lawmakers agreed that the Youth Empowerment Scheme (O’YES) of the Ministry of Agriculture was not yielding the desired results.

Obasa added that the Coconut Agency has been recommended for scrapping and should be a parastatal under the Ministry of Agriculture.

Governor Babajide Sanwo-Olu had on November 9, 2020 presented budget estimates of N1.155 trillion to the House.

Get real time updates directly on you device, subscribe now.