The Lagos State House of Assembly has given the green light to the N2.2tn 2024 Appropriation Bill, a significant stride in the state's financial planning. The bill, which was initially presented by Governor Babajide Sanwo-Olu, received unanimous approval during a plenary session presided over by Speaker Mudashiru Obasa.
The Speaker emphasized the key components of the budget, stating:
"A bill for a law to authorize the issuance and appropriation of N952,430,566,998 from the Consolidated Revenue Fund for Recurrent Expenditure and N1,315,545,553,871 from Development Fund for Capital Expenditure thereby totaling a budget size of N2,267,976,120,869 for the year ending 31st December 2024 be passed into law."
This budget, meticulously reviewed and discussed in the legislative process, encompasses provisions for recurrent and capital expenditures, marking a crucial step in advancing the state's developmental agenda.
