Lagos Assembly passes N1.164trn 2021 budget

Lagos State House of Assembly, on Tuesday, passed the state government’s N1.164trillion budget for 2021.

It was endorsed after a report by Hon. Gbolahan Yishawu (Eti Osa 2), Chairman of the Joint Committee on Economic Planning, Budget and Finance.

The legislature approved N460,587,43,741 as recurrent expenditure from the Consolidated Revenue Fund and N702,935,416,976 as capital expenditure from Development Revenue Fund.

The Speaker, Mudashiru Obasa, disclosed that during parliamentary sessions, the lawmakers agreed that the Youth Empowerment Scheme (O’YES) of the Ministry of Agriculture, was not yielding the desired results.

Obasa added that the Coconut Agency has been recommended for scrapping, and should be a parastatal under the Ministry of Agriculture.

Governor Babajide Sanwo-Olu had, on November 9, 2020, presented budget estimates of N1.155trillion to the House.