- An appropriation bill to the tune of N1.758 trillion has been passed by the Lagos House of Assembly
- The passage of the bill followed a slight increase from the initial estimated N1.38 trillion to the final N1.78 trillion
- The bill was passed after a presentation was made on the floor of the plenary by the chairman of the committee on economic planning and budget
The Lagos State House of Assembly has passed the 2022 Appropriation Bill estimate with a slight increase of N378 billion.
Premium Times reports that the increase in the proposed bill is a slight shift from the initial estimate of N1.38 trillion to a grand total of N1.758 trillion.
It was gathered that the passing of the budget was done while the speaker of the Lagos House of Assembly, Mudashiru Obasa, presided over the plenary on Wednesday, December 29.
The bill was passed after a presentation was made by the chairman of the committee on economic planning and budgeting, Honourable Gbolahan Yishawu.
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During his presentation, Yishawu said the final budget has an increase from leftovers of the previous allocations that were made in 2021.
The Punch reports that Yishawu said the 2021 leftover was rolled into a contingency fund in the 2022 appropriation bill estimate.
He also added that the capital and recurrent expenditure ratio at 66:34 for the new fiscal year with the recurrent at N591,280,803,486bn, the capital expenditure at N1.166,915,843,358 trillion.
This according to Yishawu brings the budget total size to N1,758,196,44,844 trillion for 2022.
It takes over N1 million to move a container from Apapa to Lagos mainland or it stays trapped
Importing into Nigeria is one of the most difficult things to do as a businessman a report has revealed.
Report: It takes over N1 million to move a container from Apapa to Lagos mainland or it stays trapped
The report showed that trucking a container from the port to the mainland which is just about 20km, now costs over N1 million.
The amount is almost the same cost as shipping one container from China to Nigeria within two weeks.
Tinubu visits ex-governor Osoba in Ikoyi after knee surgery
Both surgical operations were carried out in the United Kingdon (UK) for the aged leaders were successful.
To wish his friend well, Tinubu on Wednesday, December 29, paid Osoba a visit in his Ikoyi Building.