By Leshi Adebayo
The Lagos State Appropriation Bill for 2022 has passed the second reading stage of the Lagos State House of Assembly on Tuesday.
After the second reading process, Speaker of the House, Rt. Hon. Mudashiru Obasa committed bill to a joint committee on Finance and Economic Planning and Budget.
It could be recalled that BlackBox Nigeria reported last Wednesday, how Governor Babajide Sanwo-Olu presented to the Assembly a budget size of ₦1,388,285,459,990.51 for the year 2022.
However, as the lawmakers read the bill for a second time, majority commended the Governor for allocating 59% of the proposed budget to capital expenditure as it would further bring the dividends of democracy to the residents of the State.
In a related development, Majority Leader of the House, Hon. Sanai Agunbiade, said the allocation to capital expenditure meant that more hands would be engaged within the year as the government develops more infrastructure.
He said, “If this budget is well funded and monitored properly, democratic dividends would be felt more.”
Another member of the Assembly, Hon. Temitope Adewale urged that the revenue generation net of the state should be widened with lesser emphasis on borrowing.
Commenting on the bill was Hon. Fatai Mojeed, who urged that while considering the budget, there should be consideration for the microeconomic indices of the State such as its Gross Domestic Product (GDP).
Hon. Mojeed commended Governor Sanwo-Olu for allocating 23% of the budget to the education sector while raising concerns over what he called an overbloated personnel cost in the Ministry of Establishment.
On the other hand, The Chairman of the House Committee on Finance, Hon. Rotimi Olowo, noted that some of the MDAs performed woefully in 2021.
He stated that there was need for some of the revenue-generating institutions of the government to be revamped.
Hon Olowo suggested that the government create more vocational centres for the youth while advising against excessive borrowing.
Again, Speaking on the budget was the Chairman of the Committee on Economic Planning and Budget, Hon. Gbolahan Yishawu, who suggested that the House approves only what is feasible.
He explained that if the state needed more and it could make a recourse to the Assembly.
Others who commented on the bill included Hon. Setonji David, who wants the fiscal instruments of the budget to be spelt out properly at the committee stages of defence; Hon. Oluyinka Ogundimu, who advocated for a realistic budget; Hon. Adedamola Richard Kasunmu, and Hon. Mojisola Alli-Macaulay, who urged the government to consider vulnerable women and children.
Meanwhile, the House, at the sitting, passed the bills to amend the Lagos State pension reforms law and that which amends the public office holders (payment of pensions) law.
