On Monday, June 3, 2019, Governor Babajide Sanwo-Olu of Lagos State signed into law the 2019 Appropriation Bill recently passed by the state house of assembly.
After the signing ceremony held in Alausa, Ikeja, Mr Sanwo-Olu thanked the Lagos State House of Assembly for passing this law and three others which he assented to, describing them as laws to put the state on the path of progress.
The 2019 buget is N873.5 billion and has 55 percent of it earmarked for capital expenditure and 45 percent set aside for recurrent expenditure.
Out of the amount, a sum of N393.8 billion is allocated for recurrent expenditure while N479.7 billion is for capital expenditure.
The Governor promised that his administration will ensure speedy implementation of the budget.
“I want to thank you on behalf of Lagosians. We will ensure speedy implementation of the bill by ensuring a quick distribution to all ministries and agencies so that Lagosians can enjoy the full benefits of it,” he promised.
While presenting the appropriation bill, Chairman House Committee on Appropriation, Mr Gbolahan Yishau, who represented the Speaker, Lagos House of Assembly, Mr Mudashiru Obasa, said the budget would help the state government to handle some sensitive issues and consolidate on the gains of democracy in Lagos State
