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Thursday, 1 February 2018

Lagos assembly passes huge N1.046 trillion budget

Lagos assembly passes huge N1.046 trillion budget

The Lagos state house of assembly has passed the country's second largest state budget into law. The N1.046 trillion budget comes in behind Rivers state at N1.3trillion.
The house approved N347. 039 billion as total recurrent expenditure from the consolidated revenue fund. It also approved N699.082 billion as the total capital expenditure from the development revenue fund for the year ending December 31, 2018.
The mammoth Rivers state budget which is the highest ever in Nigeria's history was described by governor Ben Ayade as "budget of kinetic crystallisations." That record was previously held by Lagos with a budget of N812 billion for 2017. Yobe state's budget comes in last with an appropriation bill of N92.2billion. 
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