Lagos Assembly passes N489.69bn budget for 2014 fiscal year

The Lagos State House of Assembly, late Thursday approved the sum of N489. 69billion as the amount to be spent by the state government during the 2014 fiscal year.

The News Agency of Nigeria (NAN) reports that the amount is 3.43 per cent lower than the 2013 budget.

NAN reports that in the 2014 budget, the sum of N234.66billion is for recurrent expenditure while N255.03billion is budgeted for capital expenditure.

The Assembly, presided over by the Speaker, Mr Adeyemi Ikuforiji, passed the budget, having considered the outcome of deliberations by its Appropriation Committee headed by Mr Mudashiru Obasa.

The committee had read a breakdown of the budget on sectoral basis, with the allocations to some Ministries, Departments and Agencies (MDAs) reduced, while those of others were increased, based on their needs.

According to the breakdown of the budget, Education has the sum of N51.38billion; Heath, N22.07billion, Works and Infrastructure, N100.12billion and Environment, N25.67billillion.

Others are Agriculture and Cooperatives, N23.21billion; Transportation, N29.13billion, Information and Strategy, N28.73billion, and Judiciary, N31.28billion.

Commerce and Industry also got N7.98billion,Women Affairs and Poverty Alleviation, N1.36billion and the Lagos State House of Assembly got N11.8billion.

Following the passage, Ikuforiji directed the clerk of the House, Mr Ganiyu Abiru, to communicate the outcome without delay, to Gov. Babatunde Fashola for his assent. (NAN)