Lagos Assembly passes N1.164trillion 2021 budget

Lagos State Home of Meeting, on Tuesday, handed the state authorities’s N1.164trillion price range for 2021.

It was endorsed after a report by Hon. Gbolahan Yishawu (Eti Osa 2), chairman of the joint committee on Financial Planning, Finances and Finance.

The legislature permitted N460,587,43,741 as recurrent expenditure from the Consolidated Income Fund and N702,935,416,976 as capital expenditure from Growth Income Fund.

The Speaker, Mudashiru Obasa, disclosed that in parliamentary periods, the lawmakers agreed that the Youth Empowerment Scheme (O’YES) of the Ministry of Agriculture, was not yielding the specified outcomes.

Obasa added that the Coconut Company has been beneficial for scrapping, and must be a parastatal below the Ministry of Agriculture.

Governor Babajide Sanwo-Olu had, on November 9, 2020, offered price range estimates of N1.155trillion to the Home.