The Lagos State House of Assembly has passed the state’s 2021 Appropriation Bill valued at N1.164 trillion.
The budget was passed after a report was presented to the House by bolahan Yishawu (APC Eti Osa 2), the chairman of a joint committee on Economic Planning and Budget and Finance.
The House approved the sum of 460,587,43,741 as recurrent expenditure from the ‘Consolidated Revenue Fund’ and N702,935,416,976 as capital expenditure from ‘Development Revenue Fund’.
The total amount passed by the House for 2021 is N1,163,522,460,717.
The Speaker, Mudashiru Obasa said that it was agreed by the lawmakers during parliamentary sessions that the Youth Empowerment Scheme of the Ministry of Agriculture, O’YES was not yielding the desired results.
Obasa said that same goes for the Coconut Agency, which was recommended for scrapping by the Joint Committee and recommended to be a parastatal agency in the Ministry of Agriculture.
He also said that the fund for scholarship awards had to be reduced as recommended by the committee since the agency could not access the funds earmarked in the 2020 budget.
Mr Obasa read the sectoral allocations to the other lawmakers, who approved them through voice votes before the budget was eventually passed into law through a voice vote.
The Speaker thanked all the lawmakers and members of the press for their coverage for the Assembly in the year.
Governor Babajide Sanwo-Olu had on Monday, November 9, 2020, presented budget estimates of N1.155 trillion to the House. The 2021 budget estimates is named: “Budget of Rekindled Hope.”