… Finance, Budget and Economic Planning Committees to report back within one week
By OKUNADE ADEKUNLE
The Lagos State House of Assembly is set to reorder the 2020 Budget of N1.68trillion as the Speaker of the House, Rt. Hon. Mudashiru Ajayi Obasa, directed the House joint Committees on Budget and Economic Planning and Finance to re-order the budget from N1.68 Trillion to N920.5 Billion.
The committees were also told to report back to the House within one week.
This directive came after a voice vote conducted by the Speaker based on a request for the budget re-ordering contained in a letter sent to the House by Governor Babajide Sanwo-Olu of the state.
The letter was read on the floor by the Clerk of the House, Mr. Azeez Sanni during plenary on Tuesday June 1, 2020.
It will be recalled that the Lagos State Government recently disclosed plans to reorder the 2020 N1.168tn budget following current economic challenges as a result of COVID-19 pandemic.
The Commissioner for Economic Planning and Budget, Mr Sam Egube; and Commissioner for Information and Strategy, Mr Gbenga Omotoso, stated this during an inter-ministerial press briefing in Alausa, Ikeja.
Egube said that the reordering became necessary in view of the slump in world oil price as well as the reduction in Internally Generated Revenue of the state.
He said, “We are working assiduously, to review the budget to refocus, reorder and take into consideration the current challenges. We need to do this to give us the best chance of stimulating the economy and ensuring that the post-COVID-19 response economy will be strong, and enduring.