The Lagos State House of Assembly on Thursday passed the N662. 588 billion budget for the 2016 fiscal year in the state.
The approval by the lawmakers followed the adoption of the recommendations of the House Committee on Budget and Economic Planning during the plenary session.
Rotimi Abiru, the Chief Whip, moved the motion for adoption, while the Chairman, House Committee on Environment, Dayo Saka-Fafunmi, seconded it.
The House approved the sum of N275. 655 billion from Consolidated Revenue for recurrent expenditure, as against Governor Akinwunmi Ambode’s proposed estimate of N278. 90 billion.
It also approved the sum of N386. 933 billion from Development Revenue for capital expenditure, as against N383.67 billion proposed by the governor.
The approval showed a reduction of N3.3 billion in the governor’s proposed recurrent expenditure and an increase of the same amount in the capital expenditure.
In his comment, Mr. Saka-Fafunmi commended the committee for its scrutiny of the budget.
The lawmaker cautioned against spending of money that the state did not have or approve.
Setonji David, Chairman, House Committee on Physical Planning and Urban Development, also commended the committee, but said he expected more funds would be allocated to infrastructure development, for more road construction in the state.
The Speaker of the House, Mudashiru Obasa, who read the breakdown of the budget, directed the Clerk of the House, Ganiyu Abiru to communicate the approval to the governor.
Mr. Obasa, who assured residents of improved welfare in the new year, commended members of committee for their efforts.
“Residents should look forward to positive developments and positive changes,” he said.
Mr. Ambode had, on Dec. 17, presented the budget estimate to the Assembly for approval.
Meanwhile, the House also passed a bill for a law to amend the Lagos State University (LASU) Law, 2004 after a debate.
The House approved a tenure of five years for the Vice-Chancellor and other Principal Officers of the university, such as Deputy Vice Chancellor, Registrar, Bursar and the Librarian.
The House also passed a bill for a law to provide for the establishment of the Lagos State Employment Trust Fund and for a Board to manage the fund.
The speaker directed the clerk to send copies of the bills to the governor for his assent.
The House, thereafter, went on a five-week recess, to resume plenary on Feb. 4, 2016.