The Lagos State Home of Meeting on Wednesday night handed the Y2022 funds estimate, rising the grand whole from the preliminary N1.38 trillion to N1.758 trillion, Naija Information reviews.

The funds was handed at a sitting presided over by the Speaker of the Home, Mudashiru Obasa, after a presentation of the report by Hon. Gbolahan Yishawu, chairman of the Committee on Financial Planning and Finances.

Yishawu, after the plenary, defined that the whole funds dimension handed has addition of left overs from the earlier allocations within the 2021 funds.

He mentioned the leftover was rolled into ‘contingency fund’ within the Y2022 funds.

He additionally put the Capital and Recurrent Expenditure ratio at 66:34.

Whereas the recurrent expenditure is N591,280,803,486bn, the Capital expenditure is N1.166,915,843,358trn, which brings the funds whole dimension to N1,758,196,44,844trn.

In response to him the loans, bonds and ISPO funds are captured within the funds that was handed.

Talking after the passage of the funds, Obasa thanked his colleagues for working assiduously to make sure that the appropriation invoice was handed.

Whereas wishing them a contented New Yr celebration, Obasa prayed that God would proceed to maintain Lagos protected.

He urged them to additionally stay aware of their security in addition to the protection of their neighbours.

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By admin