Lagos State Releases Policy Statement on 2024 Appropriation Bill
Mayowa DurosinmiApril 4, 20241 Mins read313 
The Lagos State government has released the state’s policy statement on the 2024 appropriation bill.
Released on Friday, March 29, 2024, the appropriation bill depicts in totality money set aside for specific spending, though yet to be assented by the 10th House of Assembly Speaker, Rt. Hon. Mudashiru A. Obasa before it can be spent.
The 566-page bill seeks to authorise the appropriation and issuance of ₦1.3 trillion from the development fund as a capital expenditure and ₦952 billion as a recurrent expenditure from the consolidated revenue fund for the year ending December 31, 2024.
With approved ₦2.267 trillion budgeted for 2024, 54.4% of the budget has been allocated to capital expenditure.
By warrants signed by the Commissioner for Finance, the State’s Accountant-General, Dr Abiodun Muritala, is expected to disburse a maximum of ₦952 billion from the Consolidated Revenue Fund and N1.3 trillion as Capital Expenditure from the Development Fund.
The bill ensures the Commissioner for Finance and Accountant-General of the State “Shall release to the under-listed Ministries, Departments, and Agencies (MDAs) one-twelfth (1/12th) of their Annual Overhead Cost/Subventions by the first week of every month.”
- Lagos State House of Assembly
- The Judiciary
- Judicial Service Commission
- Office of the State Auditor-General
- Office of the Auditor-General for Local Governments
- Audit Service Commission
- Lagos State Internal Revenue Service
- Lagos State Procurement Agency, and
- Lagos State Health Management Agency (Equity Fund Contributions).
The bill aims to create seamless access for ministries, departments, and agencies (MDAs) to their earned Dedicated Revenue and Capital Receipts as approved by the appropriation law.
Read: Botswana to deport 20,000 elephants to Germany
About The Author
Related Articles
FOIA: CIA Confirms Nigeria’s Sitting President Tinubu as its Active Asset
The Central Intelligence Agency, CIA, on Monday confirmed that Nigeria’s sitting President,...
Abia Govt Declares Education Free and Compulsory, To Prosecute Parents, Guardians of Out-of-School Children
The Abia State government has introduced free and compulsory education for all...
Anas Aremeyaw Anas Excellence Award Held At UDS
Bawah Abdul-Mugis, a Communications graduate from the Faculty of Communications and Media...
Sahel Region Produces Over 6,000 Tonnes Crops in 2023-2024 Dry Season Despite Security Challenges
Despite ongoing security challenges, the Sahel region produced 6,640.5 tonnes of crops...