Lagos Assembly Increase Budget As They Pass N1.758 Trillion For 2022 Fiscal Year
The Lagos State House of Assembly yesterday evening passed the 2022 budget estimates of N1.758 trillion, with capital expenditure taking the lion share. DAILY TRUST reports. Information Guide Nigeria
The approved budget by the state legislature represents about 26.7% increase when compared to an initial N1.388 trillion budget estimate presented by the Lagos State Governor, Babajide Sanwo-Olu.
👉 Relocate to Canada Today!
Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaSee Other Top News:
- Police Frees 10 As Bandits Kill District Head, Others In Zamfara
- President Buhari Pledges To Look Into Forex Supply
- JUST IN: National Assembly Fail To Provide Documents Of How N2.5billion Running Costs In Six Months Were Spent
- Husband Touching His Wife Unlawfully Is Rape Under VAPP Law: Counsel
The budget, which was passed at a sitting presided over by the Speaker, Mr Mudashiru Obasa, follows a presentation of the budget report by Mr Gbolahan Yishawu, Chairman, House Committee on Economic Planning and Budget.
The lawmaker said, “The leftover was rolled into ‘contingency fund’ in the 2022 budget and this has also put the capital and recurrent expenditures ratio at 66:34″. jamb results
`The recurrent expenditure is N591.28 billion while the capital expenditure is N1.167 trillion which brings the budget total size to N1,758 trillion.’’
He also pointed out that all the loans, the bonds, and Irrevocable Standing Payment Order (ISPO) were already captured in the budget.
📢 We are hiring writers!
Article Writing Jobs - We are hiring good freelance writers - Click here to apply-
Nigeria: Govt Says UAE Yet to Lift Visa BanMarch 6, 2024