Lagos budgets N852.317b for 2019

AN Appropriation Bill of N852.317 billion to the House of Assembly for consideration and approval has been sent by Lagos State Governor Akinwunmi Ambode, it was learnt last night.

The estimate is N194b less to  last year’s N1.046 trillion.

The Commissioner for Budget & Economic Planning, Mr. Olusegun Banjo, who confirmed the development, said the bill was intended to be read before the 40-member legislature House on December 24, last year.

In a statement, Banjo said the governor had sent a verbal information of his intension to present the budget proposal on Monday, December 24, 2018 after the State Executive Council approval on December 19, 2018.

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He, however, said that the presentation was shelved because the “House was on recess and thereby could not form a quorum.”

The statement reads: “In order to meet the traditional presentation, a formal letter was sent to the House on Friday, December 28, 2018, forwarding the contents of the budget.

“It is expected that when the House reconvenes, the Speaker would inform members of the content of the Budget proposal sent by the Governor and take necessary action.

“The commissioner said the size of the 2019 budget proposal forwarded by the Governor to the House is N852.317 billion.”