The Lagos State House of Assembly has approved the N1.046trillion Y2018 budget estimate of the State Governor, Mr Akinwunmi Ambode.
According to the Appropriation Bill, a total of N347,038,938,872 (Three Hundred and Forty-Seven Billion, Thirty-Eight Million, Nine Hundred and Thirty-Eight Thousand, Eight Hundred and Seventy-Two Naira) from the Consolidated Revenue Fund was approved for Recurrent Expenditure.
N699, 082, 242, 808 (Six Hundred and Ninety-Nine Billion, Eighty-Two Million, Two Hundred and Forty-Two Thousand, Eight Hundred and Eight Naira) from Development Revenue Fund was approved for Capital Expenditure, thereby totalling a budget size of N1,046,121,181,680 (One Trillion, Forty-Six Billion, One Hundred and Twenty-One Million, One Hundred and Eighty-One Thousand, Six Hundred and Eighty Naira) for the
year ending 31st December, 2018.
It would be recalled that the House committed the legislative scrutiny of Ministries, Department and Agencies (MDAs) to a 9-Man Ad hoc Committee chaired by Hon. Gbolahan Yishawu.
Hon. Yishawu, while presenting the report of the bill, noted amongst other recommendations that the House should direct the appropriate Committee to review the Public Private Partnership PPP law while all PPP arrangements engaged by the government should be forwarded to the House for necessary legislation/ratification.
The report further recommended that government should endeavour through the Ministry of Science and Technology to centralize Internet Service across MDAs for security, reliability and cost.
The Members also passed the Lagos State Transport Reform bill 2017. The bill, which seeks to consolidate all laws relating to the transport sector, provide for the development and management of a sustainable transport system in the State.