Lagos Assembly passes N489.7b as budget for 2015

The Lagos State House of Assembly on Tuesday evening passed the state 2015 Appropriation Bill of N489, 689, 869, 621 with the House urging the executive arm of government to judiciously implement the law after it is given assent by the state governor, Mr. Babatunde Fashola.

The budget is summarised into a recurrent expenditure of N241, 976, 638, 387 and a capital expenditure of N247,713,231,234.

Sectoral allocations show Works as taking the largest chunk of the budget put at N72.250 billion followed by Education which stood at N52.209 billion.

While Health got N32.4 billion, the Environment got N22.76 billion; Housing got N28.67 billion and Transport got N27.8 billion.

The House of Assembly will be spending N8.73 billion in the 2015 fiscal year; Science and Technology got N3.94 billion while Judiciary got N3.44 billion; Information and Strategy got N2.4 billion. Agriculture and Co-operatives got N2.17 billion.

The budget was finally passed after it was deliberated upon at the Committee of the Whole House.