By Sunday Anii
Lagos State House of Assembly, yesterday, passed the 2021 appropriation bill of N1.163 trillion into law.
The budget christened, “Budget of Rekindled Hope,” was passed into law after weeks of deliberations, interactions and defence by the various Ministries, Departments and Agencies (MDAs) before the House Standing Committees, which was later ratified by the Joint Committee on Economic Planning, Budget and Finance.
Report of the Appropriation was presented during plenary by the Chairman of the Joint Committee on Economic Planning, Budget and Finance, Gbolahan Yishawu, representing Eti Osa constituency 2.
A total of N460,587,43,741 was approved for recurrent expenditure from the Consolidated Revenue Fund, while N702,935,416,976 was approved for the capital expenditure from the Development Revenue Fund. In all, the sum total of N1,163,522,460,717 was approved as the 2021 budget of the state.
Speaker, Mudashiru Obasa, said lawmakers agreed during parliamentary sessions that the Youth Empowerment Scheme of the Ministry of Agric, O’YES, was not yielding the desired results. He added that the same thing is happening with the Coconut Agency, which was recommended for scrapping by the Joint Committee and recommended to be a parastatal under the Ministry of Agric.