The N1.768 trillion budget for the fiscal year 2023 has been approved by the Lagos House of Assembly.
The proposed budget is around N100 billion more than what Governor Babajide Sanwo-Olu gave the House in October. On October 27, the Governor unveiled the N1.69 trillion “Budget of Continuity.”
From N932 billion, the capital expenditure was raised to N1.190 trillion, while from N759 billion, the governor’s proposed recurring spending, it was reduced to N748 billion.
Sectoral allocations also revealed that N3,228,396,960 had been approved as the Office of Civic Engagement’s new overhead cost for the promotion of drug misuse.
Speaker Mudashiru Obasa thanked his colleagues for their collective sacrifice and swiftness in handling the appropriation bill.
He said their action showed their love for the progress of Lagos State and hoped that residents would show their satisfaction with the lawmakers and the All Progressives Congress (APC) by voting for candidates of the party in the 2023 elections.
Obasa also urged those to implement the budget to constantly be conscious of the fact that residents are yearning for more dividends of democracy.