The Lagos State House of Assembly on Monday passed a total of ₦1,768,014,155,285 as the budget for 2023, jacking it up by ₦78 billion.
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| Lagos State House of Assembly. Emblem of the Lagos State Government in the background |
The Speaker, Mudashiru Obasa, thanked the lawmakers for their collective sacrifice and the swiftness with which the Appropriation Bill was handled.
A breakdown of the approved budget size shows the sum of ₦748,096,508,571 as Recurrent expenditure and ₦1,019,917,646,713 as Capital expenditure for the year ending 31st December, 2023.
A part of the breakdown for the sectoral allocations also shows that ₦3,228,396,960 was approved as the new Overhead Cost of the Office of Civic Engagement for drug abuse advocacy.
The sum of ₦802,987,206 was approved as the new Capital Expenditure of the Ministry of Economic Planning & Budget while ₦1,200,000,000 was approved as the new Overhead Cost (Social Intervention and Humanitarian Programme) in the Ministry of Economic Planning and Budget.PMNews
