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Sanwo-Olu signs Lagos State's N873.5bn budget bill into law

Samson Toromade

June 3, 2019 2:16 PM

Sanwo-Olu has signed the 2019 budget into law even though Ambode presented it three months ago.

Lagos State governor, Babajide Sanwo-Olu

New Lagos State governor, Babajide Sanwo-Olu, has signed the Lagos State 2019 Appropriation Bill into law just days after he was sworn in.

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The governor signed the budget, pegged at N873,532,460,725, on Monday, June 3, 2019.

Former governor, Akinwunmi Ambode, presented a budget of N852,316,936,483 before the House of Assembly on February 5 but it wasn't passed until late in April.

During his presentation to the legislators three months ago, Ambode disclosed that recurrent expenditure would be N389.6 billion and capital expenditure would be N462.8 billion with a capital/recurrent ratio of 54:46.

However, in the bill signed by Sanwo-Olu on Monday, recurrent expenditure was pegged at N393,841,387,20, while capital expenditure was pegged at N479, 691,73,705.

Samson Toromade Samson Toromade is the Editor-in-Chief of Pulse Nigeria. Contact: samson.toromade@pulse.ng

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