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NEWS UPDATE: 2021 budget amendment: Lagos Assembly approves Sanwo-Olu’s request for N1.25trn

NEWS UPDATE: 2021 budget amendment: Lagos Assembly approves Sanwo-Olu’s request for N1.25trn

Lagos Province House of Assembly on Tuesday approved the total of N1.25 trillion as an amendment to the 2021 budget.

The legislature approved a asking by Governor Babajide Sanwo-Olu.

The endorsement was made through a vocalism vote of members at the sitting presided by Speaker, Mudashiru Obasa.

Obasa directed the Receptionist, Olalekan Onafeko, to pass a make clean re-create of the study to the governor for his assent.

In September, Sanwo-Olu asked the House to approve the amendment to the 2021 Appropriation Law of N1.164 trillion passed on Dec 29, 2020.

He sought the reordering of N460.58 billion to N496.26 billion for the recurrent expenditure and N702.93 billion to N759.59 billion for the working capital expenditure.

Chairman of the House Commission on Budget and Economical Planning, Gbolahan Yishawu, announced the new appropriation law as N1,256,567,592,651 trillion.

Yishawu announced that the total of N513,343,338,737 was approved for recurrent from the Consolidated Revenue Fund.

The total of N743,224,253,914 billion from the Evolution Fund was approved for working capital expenditure for the yr ending Dec 31, 2021.

Obasa stated that the approbation was essential as it would aid the Lagos regime drive to attain the top tier rank of the biggest cities in the world.





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