2025: Lagos budget scales second reading

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.

This statement was obtained by The Record from the Chief Press Secretary to the Speaker of the Lagos State House of Assembly, Eromosele Ebhomele.

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 committee on appropriation and finance for review with a mandate to report back in one month.

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.

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.

"So I w…