on Wednesday evening, passed the 2022 budget estimate with a slight increase of the grand total from the initial N1.38 trillion to N1.758 trillion., after a presentation of the report by Gbolahan Yishawu, chairman of the Committee on Economic Planning and Budget.
Mr Yishawu, after the plenary, explained that the total budget size passed has the addition of leftovers from the previous allocations in the 2021 budget.He also put the Capital and Recurrent Expenditure ratio at 66:34. While the recurrent expenditure is N591,280,803,486bn, the Capital expenditure is N1.166,915,843,358trn, which brings the budget total size to N1,758,196,44,844trn.Speaking after the passage of the budget, Mr Obasa thanked his colleagues for working assiduously to ensure that the appropriation bill was passed.
While wishing them a happy New Year celebration, Mr Obasa prayed that God would continue to keep Lagos safe.
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