Lagos State House of Assembly on Monday on passed the Y2020 appropriation (amendment) Bill of ₦920,468,589,337Bn for the State.
Members of the House passed the re-ordering from Consolidated State Revenue, CSR during the Committee of Supply, followed the report by the Joint Committee on Economic Planning and Budget, and Finance.
Hon. Gbolahan Yishawu, Chairman, House Committee on Economic Planning and Budget noted that the approval of the House for re-ordering of priorities under the Year 2020 Appropriation contained 120 findings and 120 amendments as recommended by the Joint Committees and approved by the House through a voice vote conducted by the Speaker, Hon. Mudashiru Obasa.
The approval of the Bill was necessitated by the unforeseen pandemic (COVID-19) which has adversely affected the internal revenue projections of the State and also crippled the economic activities on a global scale.
Giving the breakdown of the re-ordering; Hon. Obasa indicated that the total budget size shrunk by ₦248.093Bn being 21% to ₦920.469Bn from ₦1.168Tn which 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 31st December, 2020.
He thereafter directed the Clerk of the House, Mr. Azeez Sanni to forward a clean copy of the approved Y2020 appropriation (amendment) Bill to Governor Babajide Sanwo-Olu for his assent.