*The Lagos State House of Assembly passes N3.37 trillion 2024 Budget of the state in Nigeria

Isola Moses | 绿帽献妻

The Lagos State House of Assembly (LSHA) Monday, January 6, 2025, approved N3,366,815,224,144 as the 2024 Budget of the state.

绿帽献妻 reports the Lagos House’s approval followed the presentation of a report on the budget by Hon. Sa’ad Olumoh, Chairman of the Joint Committee on Appropriation and Finance, and subsequent voice votes by lawmakers.

Rt. Hon. (Dr.) Mudashiru Obasa, Speaker of the Lagos House of Assembly, presided over the session Monday.

The approved budget is made of N1,295,630,197,452 as recurrent expenditure while N2,071,185,026,692 is earmarked as capital expenditure for the year ending December 31, 2025.

Dr. Obasa, thereafter, directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the passed bill to Governor Babajide Sanwo-Olu for his assent.

The Speaker also commended his colleagues for their painstaking efforts leading to the passage of the budget. Governor Sanwo-Olu had on November 21, presented a proposal of N3.005 trillion to the House for approval.

The Governor, during the presentation, told the lawmakers that the budget has a deficit financing of N408,902 billion.

The deficit, Obasa stated, would be financed from external and internal loans and bonds.