The Lagos State House of Assembly on Monday debated the 2025 appropriation bill totaling N3.005 trillion, which was presented to lawmakers by Governor Babajide Sanwo-Olu last Thursday.
Speaker Mudashiru Obasa, who led the plenary session, referred the bill to a joint committee on appropriation and finance for further scrutiny, with a mandate to report back within a month.
Hon. Sa’ad Olumoh, Chairman of the House Committee on Budget and Economic Planning, gave an overview of the proposed budget, breaking down its various components.
While he expressed concerns about the projected N408 billion deficit financing, Olumoh emphasized the importance of using loans responsibly and suggested exploring alternative funding options, such as Public-Private Partnerships (PPP), to ensure sustainability and avoid over-reliance on borrowing.
He urged his colleagues to carefully examine the budget to prevent wasteful spending, though he acknowledged the government’s positive intentions.
Deputy Majority Leader, Hon. Adedamola Richard Kasumu, also called for a thorough review of the budget to allow for a proper comparative analysis of its feasibility.
Hon. Desmond Elliot raised concerns about the lack of food security measures in the proposal, urging the inclusion of initiatives to address citizens’ needs.
Governor Sanwo-Olu assured the lawmakers that the budget was designed with a 59% focus on capital expenditure and 41% on recurrent expenditure, with deficit financing planned through both external and internal loans as well as bonds.
