Lagos State House of Assembly has passed the Year 2020 Appropriation (Amendment) Bill of ₦920.47 billion. The House passed the amended Bill after taking the report by the Joint Committee on Economic Planning and Budget, and Finance.
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Chairman, House Committee on Economic Planning and Budget, Mr 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 said that the approval of the Bill was necessitated by the unexpected coronavirus pandemic, COVID-19, which has adversely affected the internal revenue projections of the State and also crippled the economic activities on a global scale.
While giving the breakdown of the re-ordering, the Speaker, Mr Mudashiru Obasa indicated that the total budget size shrunk by ₦248.093bn being 21 per cent to ₦920.469bn from ₦1.168trillion. He noted that this made the proposed revised total, ₦920,468,589,337bn with the Recurrent Expenditure of ₦411,608,499,249 and Capital Expenditure of ₦508,860,843,967 for the year ending December 31, 2020. He then directed the Clerk of the House, Mr Azeez Sanni to forward a clean copy of the approved Y2020 Appropriation (Amendment) Bill to the Governor, Mr Babajide Sanwo-Olu for his assent.