This was made known in a statement by the Chief Press Secretary to the Speaker, Eromosele Ebhomele.

The budget, with 58 percent allocated to Capital Expenditure and 42 percent to Recurrent Expenditure, received approval during a plenary session presided over by Speaker Mudashiru Obasa.

The lawmakers commended the swift passage of the budget, and Speaker Obasa directed the Clerk of the House to send a copy to Governor Babajide Sanwo-Olu for assent.

“A bill for a law to authorise the issuance and appropriation of N952,430,566,998 from the Consolidated Revenue Fund for Recurrent Expenditure and N1,315,545,553,871 from Development Fund for Capital Expenditure thereby totaling a budget size of N2,267,976,120,869 for the year ending 31st December, 2024 be passed into law,” the Speaker had raised on the floor as the budget report was read a third time.

Prior to passage, the joint-committee on Budget and Finance recommended placing the Public Works Corporation, Water Corporation, and state-owned tertiary institutions on first-line charge for optimal performance.

Recall Governor Sanwo-Olu had presented the 2024 budget proposal of N2.246 trillion to the House of Assembly on December 13, 2023, anticipating N1.251 trillion in internally generated revenue and N596.629 billion in federal government allocations.

Recall that Obasa, during the presentation of the budget by the governor, urged the government should ensure a functional budget.

“It is highly important for us to apply the right indices towards ensuring a performing and functioning budget that would lift our people out of poverty and reposition the state towards infrastructural growth and renewal.

“Palliatives should move from just giving people garri, rice, beans or even money. We should have a direction that is focused, impactful and deeply backed up by effective policy implementations.

“For instance, in the name of palliative care, let there be provision of drugs at all public hospitals in the state at subsidised rates. At the same time, focus should be on a downward review of treatment costs in these hospitals,” the Speaker said during the budget presentation.