Twenty-Four days after the Lagos State House of Assembly passed the state’s 2023 budget Governor Babajide Sanwo-Olu is yet to sign it into law.
Sanwo-Olu had on October 27, 2022, presented an N1.692 trillion appropriation bill to the Assembly, which was passed on December 12, 2022, by the Assembly. The assembly however raised the approved budget by N 76 billion to N 1.768 trillion.
The governor, while presenting the budget to the Assembly, said the state government was expecting N 1.342 billion in revenue to fund the budget.
According to Sanwo-Olu, about N759 billion would be for recurrent expenditure while N932 billion would be for capital expenditure.
Lagos State House of Assembly had passed the state’s N1.768 trillion budget for 2023. The breakdown of the approved budget showed N748.096 billion as recurrent expenditure and N1.019 trillion as capital expenditure.
The Speaker of the Assembly, Mudashiru Obasa, said the passion with which the lawmakers processed the bill for passage showed their love for the progress of the state.
