In a significant legislative move, the Lagos State House of Assembly has approved the N2.2 trillion 2024 Appropriation Bill, which was initially presented by Governor Babajide Sanwo-Olu.
The budget successfully secured passage during a plenary session held on Friday, presided over by the Speaker, Mudashiru Obasa. The announcement was made via a statement issued by the Speaker’s Chief Press Secretary, Eromosele Ebhomele.
During the session, Speaker Mudashiru Obasa urged the assembly members to endorse the bill, stating, “A bill for a law to authorize the issuance and appropriation of N952,430,566,998 from the Consolidated Revenue Fund for Recurrent Expenditure and N1,315,545,553,871 from the Development Fund for Capital Expenditure, thereby totaling a budget size of N2,267,976,120,869 for the year ending 31st December 2024 be passed into law.” This declaration came as the budget report received its third reading on the floor of the House.
Further details on the specifics of the budget allocations are expected to be disclosed at a later time. Stay tuned for updates as we delve into the comprehensive breakdown of the 2024 Appropriation Bill for Lagos State.