Sanwo-Olu signs N1.17trn 2020 budget into law

Lagos State Governor, Mr Babajide Sanwo-Olu, on Tuesday signed the 2020 Appropriation Bill of N1.168 trillion into law.

The Lagos State House of Assembly had on Monday, after consideration, passed the slightly adjusted budget size for governor’s assent into law.

Speaking during the signing ceremony at the State House, Ikeja, Sanwo-Olu said that Lagos residents would experience a strong and prosperous economy in 2020.

He said that the early passage of the budget by the House of Assembly showed that the state was indeed working.

”Each one of us can do our work independently, and do it without fear or favour. But at the end of the day, we will all come out very well, we come out good, and we come out ensuring that we are serving Lagosians.

”I think the work has just started, because this will be our very first budget to demonstrate our capacity and our competence to be able to take the narrative of our Lagos forward.

”This is the biggest budget. The House has actually extended N1 trillion budget before, but it’s not N1.168 trillion. So, this is actually very audacious.

”I can assure you that my colleagues are well suited and they are fired up to ensure that we perform on this budget, almost 100 per cent.

”We are actually targeting to do well above 92 per cent and track it to 100 per cent, that is the only way we can make the House of Assembly and Lagosians be happy with us,” the governor said.

He said that his administration would ensure that the budget was implemented with transparency and accountability.

According to him, the budget will ensure that it serves the interest of the greatest number and that it will bring about ensuring better quality of life.

L-R: Commissioner for Economic Planning and Budget, Mr Sam Egube; Lagos State Deputy Governor, Dr Obafemi Hamzat; Governor Babajide Sanwo-Olu; the Speaker, Lagos House of Assembly, Rt. Hon. Mudashiru Obasa; Attorney General/Commissioner for Justice, Mr Moyo Onigbanjo (SAN) and Chairman of the House Committee on Economic Planning and Budget, Hon. Gbolahan Yishawu, during the signing of the Y2020 Budget into Law at the Lagos House, Alausa, Ikeja, on Tuesday.

The Speaker, Lagos State House of Assembly, Mudashiru Obasa, said that the executive did a thorough job, as the budget did not give the Assembly much trouble.

Obasa said that the budget was a budget for all, as it touched all the sectors and every individual had something to get out of it.

”So, it really gladdens our hearts to give every support to see that this budget sees the light of the day.

”As I said when Mr Governor presented the budget before the Assembly that it is going to be a New Year gift to Lagosians, and we are glad; we have been able to maintain that stand.

”Where I look forward to, most especially all the members of the executive council, is the area of the revenue. For whatever we have proposed, whatever we have agreed, for whatever we have given back into, we need this money to solve these purposes.

”And that means you have a lot to do. This will be the second time we have proposed N1 trillion budget and I think we want to make this the first time that we achieved that proposal.

”So, I am urging you all to make sure you rise up to your responsibilities and make sure that every leaking holes within the MDAs are blocked, so that we can achieve this,” he said.

The Chairman, House Committee on Budget and Economic Planning, Gbolahan Yishawu, said that the Executive brought forth the 2020 budget in good time.

Yishawu said that the House Committee members worked round the clock to ensure the budget was passed in line with the directive of the Speaker.

”During the budget defence, members of the cabinet were cooperative and provided required insights that led to the speedy completion of the work,” he said.

The chairman said that the details of the budget spoke to the developmental agenda of the governor.

The Commissioner for Economic Planning and Budget, Mr Sam Egube, said that the speedy passage of the budget was not without challenges and disagreements.

Egube said that the acceleration of the process indicated cooperation and smooth working relationship between the executive and the legislature.

He said that the signing of the budget set the tone on how the government would be driven in 2020.