By Temitayo Peters

OrderPaperToday – The Lagos State House of Assembly has approved the 2016 Budget proposal of N662,588 billion presented to it by the State Governor, Mr. Akinwunmi Ambode.

Presenting the report of the Budget and Economic Planning Committee to the House, Mr. Rotimi Olowo, indicated that no significant alteration was made to the proposal.

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Olowo who is chairman of the committee, thanked the Speaker of the House, Mudashiru Obasa, members of the committee, other lawmakers as well support staff of the House, who according to him, worked tirelessly to ensure that the process of scrutinising the budget was accelerated.

On his part, Speaker Obasa thanked all the members of the Budget and Economic Planning Committee for their efforts, while also thanking other lawmakers and the staff of the Assembly.

While presenting the budget few weeks ago, Ambode pledged that his administration will not only implement the budget faithfully, but also ensure that it works in the best interest of Lagosians.

The Governor who christened the 2016 budget “The Peoples Budget” said it was an improvement of 26 percent over the budgets of 2014 and 2015 respectively which stood at N489.6 Billion individually.

“The increase will enable our government to focus on the present challenges of security, traffic gridlock resolution including physical and social infrastructural development which has thrown up new challenges quite different from what we used to experience and have always known”, he had said.

It will be recalled that Obasa subsequently committed the budget into the House Committee on Budget and Economic Planning with a directive that the report should be submitted to the House on Thursday 31st December.

Meanwhile, the House has also passed into law a Bill for a law to amend the Lagos State University (LASU) Law 2004.

Part of the amendment of the law is the recommendation of a 5-year tenure for the Vice Chancellor and other principal officers of the school such as the Deputy Vice-Chancellors, Registrar, Bursar and the Librarian.

The House also passed into law a Bill for a law to provide for the Establishment of the Lagos State Employment Trust Fund and for An Agency to Manage the Fund and for Other Connected Purposes

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