The State House of Assembly has received a letter from Lagos State Governor, Mr Babajide Sanwo-Olu, requesting to rearrange the 2023 budget of N1.768 trillion by N234.669 billion. The governor explained that the rearrangement would allow the government to prioritise capital expenditure and relief measures to ease the economic difficulties faced by the people of the state.
The letter, dated October 9, 2023, was read by the House Clerk, Barrister Olalekan Onafeko, at the plenary session on Tuesday. Governor Sanwo-Olu informed Speaker Mudashiru Obasa and the lawmakers that his administration was faced with the increasing need to fulfil the expectations of the people. The governor stated that the 2023 budget had been partly executed, adding that it had 76 percent overall performance as of June 30, 2023.
“The performance of some of the major MDAs that are expected to implement the capital expenditure is below par while others have nearly used up their budgetary allocations,” the governor said in the letter. He said that the government was striving to improve the performance of the capital expenditure.
“Besides this, we are faced with the need of this administration to deliver on its electoral pledges to the citizens and have decided to utilise the favourable weather conditions in the later part of this year to complete various projects,” the letter partly read. He said that the rearrangement was also necessary to mitigate the impact of the removal of fuel subsidy and the unification of the exchange rates which have caused economic hardships for the citizens.
He mentioned some of the projects that would be implemented with the rearranged budget, such as the Phase One Blue Line Rail, provision of programmes and projects for social inclusion, gender equality and youth, completion of Lekki-Epe Road Phase 3, provision of security and emergency equipment as well as zero-tolerance for potholes.
In addition, Governor Sanwo-Olu has nominated Mrs. Kemi Ogunyemi as a member of the State Executive Council for confirmation. The House is expected to discuss and approve the governor’s requests soon.