The Lagos State House of Assembly has committed the 2022 Appropriation Bill to its joint committee on Finance and Economic Planning/Budget. The House made the resolution through a voice vote conducted by the Speaker, Hon. Mudashiru Obasa, during the plenary session on Tuesday.
The News Agency of Nigeria (NAN) reports that Gov. Babajide Sanwo-Olu, on Wednesday presented to the assembly a budget size of ₦1,388 trillion for the year 2022. Obasa said the House decided to commit the bill to a joint committee after it had scaled the second reading.
The speaker, therefore, commended the Governor for allocating 59 percent of the proposed budget to capital expenditure, adding that it would further bring the dividends of democracy to the residents of the state.
Majority Leader of the House, Hon. Sanai Agunbiade, said the allocation to capital expenditure proposes that more hands would be engaged within the year as the Government develops more infrastructure.
“If this budget is well funded and monitored properly, democratic dividends would be felt more,” he said.
In his contribution, Hon. Temitope Adewale urged that the revenue generation net of the state should be widened with less emphasis on borrowing.
On his part, Hon. Fatai Mojeed, urged that while considering the budget, there should be consideration for the microeconomic indices of the State like its Gross Domestic Product (GDP).
He commended the governor for allocating 23 percent of the budget to education but raised concerns over what he called an over bloated personnel cost in the Ministry of Establishment.
The Chairman, House Committee on Finance, Hon. Rotimi Olowo, noted that some of the MDAs performed woefully in 2021, adding that there was the need for some of the revenue-generating institutions of the government to be rejigged.
Olowo also suggested that the state government should create more vocational centres for the youth while advising against excessive borrowing.
Speaking on the budget, the Chairman of the Committee on Economic Planning and Budget, Hon. Gbolahan Yishawu, suggested that the House approves only what is feasible and that if the state needs more, it could make a recourse to the assembly.
Meanwhile, the House, at the sitting, passed the bills to amend the Lagos State Pension Reforms Law which amends payment of pensions to public office holders.
Discussion about this post