{"id":54108,"date":"2021-11-24T15:21:24","date_gmt":"2021-11-24T14:21:24","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=54108"},"modified":"2021-11-24T15:21:24","modified_gmt":"2021-11-24T14:21:24","slug":"capital-expenditure-gets-n823-5bn-as-sanwo-olu-presents-n1-4trn-2022-budget","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/capital-expenditure-gets-n823-5bn-as-sanwo-olu-presents-n1-4trn-2022-budget\/","title":{"rendered":"Capital Expenditure Gets N823.5bn, As Sanwo-Olu Presents N1.4trn 2022 Budget"},"content":{"rendered":"

Lagos State Governor, Mr. Bababjide Sanwo-Olu, has concluded plans to present over N1.374 trillion Year 2022 Appropriation Bill before members of the State House of Assembly on Wednesday, November 24, 2021, at Alausa, Ikeja.<\/p>\n

The budget presentation was initially scheduled for November 17, but was rescheduled due to some circumstances.<\/p>\n

Sanwo-Olu, is scheduled to present the budget estimates before the lawmakers for consideration and approval in line with provisions of the constitution.<\/p>\n

The event is expected to kick off by 11.am, at the state Assembly Complex, Alausa, Ikeja, with members of the state executive council in attendance.<\/p>\n

The 2022 budget estimates is a bit higher than that of the outgoing year, 2021 of N1.163 trillion.<\/p>\n

Recall that the governor, had on November 10, 2020, presented Year 2021 budget estimates of \u20a61.155 trillion, christened: Budget of Rekindled Hope,\u201d to be funded through projected total revenue of \u20a6962,528 billion before members of the state House of Assembly.<\/p>\n

Instructively, the state House of Assembly, subsequently, in its considerations increased the budget size to N1.163 trillion.<\/p>\n

The budget has a Capital Expenditure of N702.9billion and a Recurrent Expenditure of N460.6billion which stands at a ratio of 60 to 40 per cent.<\/p>\n

Sanwo-Olu, later, signed the year 2021 budget into law on December 31, 2020.<\/p>\n

Speaking at the presentation of the 2021 Budget, Sanwo-Olu said it was intended to reflect the determination to rise above the challenges that had affected the development indices in the last 10 months, ocassioned by COVID-19 pandemic challenges.<\/p>

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\u201cAs well as demonstrate the willingness to overcome all obstacles and deliver all electoral promises to Lagosians; stating that the Y2021 budget will reflect the continued execution of the THEMES,\u201d the governor stated.<\/p>\n

Meanwhile, the new date was announced on Monday, by the Leader of the House, Sanai Agunbiade, at a sitting presided over by the Speaker, Dr. Mudashiru Obasa.<\/p>\n

A letter from the Governor to the lawmakers announcing his plan to present the budget was read by the acting Clerk of the House, Mr. Olalekan Onafeko.<\/p>\n

The proposed budget size showed N1.374,375,930,585.<\/p>\n

In the letter, the Governor thanked the lawmakers for their constant support and the timely approval of the 2021 budget.<\/p>\n

He added that the presentation of the 2022 budget was to allow for continuity of the gains recorded by the government over the years.<\/p>\n

Also, at the sitting, the lawmakers passed the bill for a law to establish Lagos State fire and rescue service and for connected purposes as well as the bill creating the Lagos State University of Science and Technology<\/p>\n

Vanguard.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lagos State Governor, Mr. Bababjide Sanwo-Olu, has concluded plans to present over N1.374 trillion Year 2022 Appropriation Bill before members of the State House of Assembly on Wednesday, November 24, 2021, at Alausa, Ikeja.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[154],"coauthors":[2391],"class_list":["post-54108","post","type-post","status-publish","format-standard","","category-business","category-news","tag-lagos-state"],"yoast_head":"\nCapital Expenditure Gets N823.5bn, As Sanwo-Olu Presents N1.4trn 2022 Budget - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/capital-expenditure-gets-n823-5bn-as-sanwo-olu-presents-n1-4trn-2022-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital Expenditure Gets N823.5bn, As Sanwo-Olu Presents N1.4trn 2022 Budget - 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