LAGOS ASSEMBLY PASSES BUDGET OF N1.046TRN INTO LAW - Soul 2 Soul Mates Blog

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1/31/2018

LAGOS ASSEMBLY PASSES BUDGET OF N1.046TRN INTO LAW

LAGOS ASSEMBLY PASSES BUDGET OF N1.046TRN INTO LAW
Lagos—THE Lagos  State House of Assembly, yesterday passed the state’s 2018 appropriation bill of N1,046 trillion
into law. The passage followed the adoption of the report and recommendations of the House Adhoc Committee on Budget and Economic Planning, headed by Gbolahan Yishawu. The house approved N347. 039 billion as total recurrent expenditure from the consolidated revenue fund. It also approved N699. 082 billion as the total capital expenditure from the development revenue fund for the year ending December 31, 2018. Yishawu, while presenting the committee’s report, said that efforts should be made to reduce 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. The Acting Chairman, House Committee on Physical Planning and Urban Development , Setonji David, said: “there are so many arrangements going on in Private-Public Partnership, PPP, that the house does not know about.” The Deputy Majority Leader, Muyiwa Jimoh, said 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.




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