January 05, (THEWILL) – The Lagos State House of Assembly has passed the N2.267 trillion 2024 budget presented to it by Governor Babajide Sanwo-Olu.
Governor Sanwo-Olu had on Wednesday, December 13, 2023, presented the 2024 budget proposal of N2.246 trillion to the State Assembly.
The budget was passed on Friday, following the consideration and adoption of the report of the joint Committee on Budget and Finance, chaired by Sa’ad Olumoh.
It comprises 58 per cent capital expenditure and 42 per cent recurrent expenditure.
Presenting the appropriation titled “Budget of Renewal”, Sanwo-Olu said the state anticipates an internally generated revenue of N1.251 trillion and Federal Government allocations of N596.629 billion.
Speaker of the Assembly, Mudashiru Obasa, hailed the lawmakers for their dedication and cooperation in ensuring a quick passage of the Appropriation Bill and directed the Clerk of the House, Olalekan Onafeko, to forward a copy of the approved budget to Governor Sanwo-Olu for assent.
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