Lagos lawmakers approve re-ordering of N93b in 2019 budget
ANRP cautions Sanwo-Olu against N250b bond
The Lagos State House of Assembly yesterday approved the re-ordering of N93,742,530 billion from the 2019 budget.
Governor Babajide Sanwo-Olu had in a letter requested the re-ordering of the budget, saying there was shortfall in revenue.
The Speaker, Mudashiru Obasa, had committed the governor’s request to the joint committees on Finance and Budget and Economic Planning.
Presenting the report of the joint committees, Gbolahan Yishawu stated that the 2019 budget size stood at 71 per cent as at August.
According to him, the recurrent performance was 80 per cent while the capital was 46 per cent.
In the motion moved by Tunde Braimoh, the House approved that the capital of N74, 824,648,162 and recurrent N18,918,059,368 to be re-ordered respectively.
Obasa, therefore, said: “Since it is a unanimous decision, let’s pass the reordering of the budget so that the governor and his team will continue to do the good work for Lagos residents.”
In another development, Lagos State Chapter of Abundant Nigerian Renewal Party (ANRP) has urged Sanwo-Olu not to further plunge the state into another N250 billion debt in addition to what the state already owes.
In a statement yesterday, the state Publicity Secretary of the party, Mrs. Yetunde Taiwo Adekunle, said after a careful deliberation on the reasons adduced by Sanwo-Olu for applying for such loan, “ANRP found such totally unadvisable this time.”
Meanwhile, Chief Press Secretary to the Governor, Mr. Gboyega Akosile, said the bond would be used judiciously.
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