The Lagos State House of Assembly approved the 2026 Budget Reordering Bill on Tuesday. This bill changes how the state will use its N4.445 trillion budget.
Lawmakers passed the bill after they looked at and accepted the report from the House Committee on Economic Planning and Budget, according to TVC.
Olumoh Sa’ad, the committee chairman, presented the report. He said the review was needed because different ministries, departments, and agencies (MDAs) had different results in carrying out their capital projects.
He pointed out that some MDAs had done well in using their capital funds, while others had not spent all the money set aside for their projects.
The committee reported that the overall budget performance for the state was at 69 percent as of 30 June.
It noted that recurrent revenue performance was at 79 percent. Recurrent and capital expenditure was at 73 percent and 66 percent respectively.
In the reordered budget, N2.077 trillion will go to recurrent spending. N2.368 trillion is set for capital projects.
The budget covers several areas, including transportation infrastructure, hospital projects, housing, environmental sanitation, waste management, security, and emergency equipment.
After discussions, the lawmakers accepted the committee's recommendations. Speaker Mudashiru Obasa led a vote to pass the bill.
Mr Obasa told the Clerk to inform the relevant authorities about the House's decisions.
The assembly then adjourned until 2 November.
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