Lagos State House of Assembly yesterday passed the 2020 Appropriation (Amendment) Bill of N920,468,589,337.
The lawmakers okayed the re-ordering after taking the report of the Joint Committee on Economic Planning and Budget and Finance.
Chairman, House Committee on Economic Planning and Budget Hon. Gbolahan Yishawu noted that the approval of the House for re-ordering of priorities in the 2020 Appropriation Bill contained 120 findings and 120 amendments as recommended by the Joint Committees and okayed by the House through a voice vote conducted by the Speaker, Hon. Mudashiru Obasa.
The approval was necessitated by the covid-19 pandemic, which has affected the internal revenue projections of the state and also crippled economic activities.
Giving the breakdown of the re-ordering, Obasa said the total budget shrunk by N248.093billion being 21 per cent to N920.469billion from N1.168trillion, which made the proposed revised total, N920,468,589,337, with the Recurrent Expenditure of N411,608,499,249 and Capital Expenditure of N508,860,843,967 for the year ending December 31, 2020.
He directed the Clerk of the House, Mr. Azeez Sanni, to forward a clean copy of the approved Bill to Governor Babajide Sanwo-Olu for his assent.
