Lagos Assembly Passes 2011 Budget
The Lagos State House of Assembly has passed the 2011 appropriation bill brought to it by the State Governor, Babatunde Fashola, last December.
The lawmakers however increased the budget from the N445.18 billion initially brought before them to N450.775 billion to accommodate other areas that may be important to the running of the government this year.
Part of the recommendation passed by the House included that out of the budget, the sum of N252.593 be approved as the total capital for the year ending 31 December, 2011.
They also approved the sum of N198.182 billion as the total recurrent expenditure for the year.
They added N600 million as overhead cost of the Lagos Internal Revenue Service.
The lawmakers approved the sum of N3.022 billion to be added to the capital expenditure of the Lagos State University (LASU) for its accreditation purpose.
By Eromosele Ebhomele
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