The Lagos State House of Assembly has announced it has committed the 2022 Appropriation Bill to the joint committee on Finance and Economic Planning/Budget.
This was disclosed by the Lagos State House of Assembly after resolution through a voice vote conducted by the Speaker, Hon. Mudashiru Obasa, during the plenary session on Tuesday, according to NAN.
The speaker revealed that the House of Assembly committed the bill to a joint committee after it had scaled the second reading
What the House of Assembly is saying
Speaker Obasa commended the governor for allocating 59% of the proposed budget to capital expenditure, stating it would benefit state residents.
Majority Leader of the House, Hon. Sanai Agunbiade said the allocation to capital expenditure proposes that more hands would be engaged within the year as the government develops more infrastructure. “If this budget is well funded and monitored properly, democratic dividends would be felt more,” he said.
The Chairman, House Committee on Finance, Hon. Rotimi Olowo, added that some of the MDAs performed woefully in 2021, adding that there was the need for some of the revenue-generating institutions of the government to be rejigged. He urged the state government to create more vocational centres for the youth while advising against excessive borrowing.
The House of Assembly also suggested that it would approve only what is feasible and that if the state needs more, it could make recourse to the assembly, according to the Chairman of the Committee on Economic Planning and Budget, Hon. Gbolahan Yishawu.
In case you missed it
Nairametrics reported last week that the Lagos State Governor, Babajide Sanwo-Olu, presented a 2022 budget of N1.388 trillion to the state house of assembly, earmarking huge capital expenditure in the fiscal year to service key growth areas in order to consolidate the recovery of the state’s economy and positively transform residents’ livelihoods.