{"id":120382,"date":"2024-11-25T19:03:37","date_gmt":"2024-11-25T18:03:37","guid":{"rendered":"https:\/\/saharaweeklyng.com\/?p=120382"},"modified":"2024-11-25T19:03:37","modified_gmt":"2024-11-25T18:03:37","slug":"lagos-2025-budget-scales-second-reading","status":"publish","type":"post","link":"https:\/\/saharaweeklyng.com\/lagos-2025-budget-scales-second-reading\/","title":{"rendered":"Lagos 2025 Budget Scales Second Reading"},"content":{"rendered":"
<\/div>

Lagos 2025 Budget Scales Second Reading<\/strong><\/h2>\n

– Speaker gives committee 1 month to report back<\/strong><\/h2>\n

The Lagos State House of Assembly on Monday debated the 2025 appropriation bill of N3.005 trillion presented to the lawmakers by Governor Babajide Sanwo-Olu last Thursday.<\/p>\n

Speaker Mudashiru Obasa, who presided over the plenary, committed the bill to a joint committee on appropriation and finance for review with a mandate to report back in one month.<\/p>\n

Earlier, Chairman of the House Committee on Budget and Economic Planning, Hon. Sa’ad Olumoh, provided an overview of the proposed spending with a breakdown of items in the estimate.<\/p>\n

While raising concerns over the projection of N408 billion deficit financing in the budget, Olumoh, who noted that loans are good when used for the actual purposes, added: “We have to be cautious about it. We need to have a sustainable and pragmatic way of financing our budget so that we don’t rely solely on loans.<\/p>\n

“So I would suggest that we look at a realistic budget and ways to finance it using alternatives like the Public Private Partnership models.<\/p>\n

“I also want to implore my colleagues that for the purpose of the 2025 budget, we need to properly scrutinise it to prevent wastage.”<\/p>\n

He commended the government for its intentions as stipulated in the budget estimate.<\/p>\n

Deputy Majority Leader Adedamola Richard Kasumu called for a careful review of the budget to enable comparative analysis and feasibility.<\/p>\n

Hon. Gbolahan Yishawu (Eti-Osa 2) noted the absence of allocations for electricity infrastructure and climate change initiatives while suggesting a five-year retrospective analysis of deficit funding.<\/p>\n

His colleague, Hon. Femi Sheed, stressed the importance of linking borrowing to critical infrastructure like electricity while ensuring revenue efficiency and addressing potential financial leakages.<\/p>\n

On his part, Hon. Desmond Elliot highlighted the omission of food security measures in the proposal while urging the inclusion of initiatives to meet citizens\u2019 needs.<\/p>\n

Recall that Governor Sanwo-Olu told the lawmakers that the budget aims to achieve a 59% capital expenditure and 41% recurrent expenditure ratio with a deficit financing to be sourced through external and internal loans and bonds.<\/p>\n

\"Lagos<\/a> \"\"<\/a><\/p>\n

Eromosele Ebhomele
\nChief Press Secretary to the Speaker of the Lagos State House of Assembly.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lagos 2025 Budget Scales Second Reading – Speaker gives committee 1 month to report back The Lagos State House of Assembly on Monday debated the 2025 appropriation bill of N3.005 trillion presented to the lawmakers by Governor Babajide Sanwo-Olu last Thursday. Speaker Mudashiru Obasa, who presided over the plenary, committed the bill to a joint […]<\/p>\n","protected":false},"author":2,"featured_media":120383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[1513,2465,877,312],"class_list":["post-120382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-featured","tag-lagos-assembly","tag-obasa","tag-politics"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/saharaweeklyng.com\/wp-content\/uploads\/2024\/11\/IMG-20241125-WA0037.jpg?fit=1080%2C686&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p6Suws-vjE","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/posts\/120382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/comments?post=120382"}],"version-history":[{"count":1,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/posts\/120382\/revisions"}],"predecessor-version":[{"id":120385,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/posts\/120382\/revisions\/120385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/media\/120383"}],"wp:attachment":[{"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/media?parent=120382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/categories?post=120382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/saharaweeklyng.com\/wp-json\/wp\/v2\/tags?post=120382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}