Babajide Sanwo-Olu, the Governor of Lagos State has requested the approval of the Lagos State House of Assembly to re-order a sum of N10.050Billon under Capital Expenditure of Y2019 budget.
Sanwo-Olu’s request was contained in a letter which was communicated to the lawmakers on the floor of the House by the Clerk, Mr. Azeez Sanni. The Governor noted that as at 31st August, 2019 the budget had a 71% overall performance which according to him is below the set target of 100%. He added that the budgetary provisions of both Recurrent and Capital Budget of Ministries, Departments and Agencies have been reviewed and would not likely be utilized before the end of Y2019 fiscal year, hence, the need for them to be re-ordered to other priority areas.
According to the letter, the present structure of the budget would have to be amended to specifically drive Capital Expenditure through the completion of various ongoing capital projects which was started by the previous administration that include completion of Lagos/Ibadan Express road, completion of Pen Cinema, Agege overhead bridge, provision of security and emergency equipment amongst others.
The letter also sought for the reversal of the clause of Y2019 Appropriation Law and return votes to the executing agencies.
The clause of Y2019 Appropriation law stipulates that the Commissioners for Economic Planning and Budget, Finance; and the Accountant General should seek and obtain the approval of the House before incurring any expenditure.
Rt. Hon. Mudashiru Obasa thereafter committed the letter to joint Committee on Finance and Economic Planning and Budget for further actions. The Committees are to report back on Monday, 21st October, 2019.