Lagos State House of Assembly has approved the sum of N3,366,815,224,144 as total budget of the state for 2025.
Gatekeepers News reports that this followed the presentation of a report on the budget by chairman of the joint committee on appropriation and finance, Hon. Sa’ad Olumoh, followed by the lawmaker’s voice votes at a sitting presided over by speaker of the house, Rt. Hon. Mudashiru Obasa.
A breakdown of the budget shows that N1,295,630,197,452 will be used as recurrent expenditure while N2,071,185,026,692 is earmarked for capital expenditure for the whole year.
After the approval, Obasa directed Clerk of the House, Barr. Olalekan Onafeko to transmit a clean copy of the passed bill to the state Governor, Babajide Sanwo-Olu for assent.
The Speaker commended his colleagues for their hard work in getting the budget passed.
The House also passed a bill to consolidate all laws on local government administration in the State.
The bill makes provisions based on constitutional amendments and amendments by National Assembly that directly impact local governments in Lagos State.
