Members of the Lagos State House of Assembly have resolved that the Committee on Economic Planning and Budget should embark on the assessment of the October to December 2016 and 2017 Mid-Year Budget of
Ministries, Department and Agencies (MDAs).
The Chairman Committee on Budget, Economic Planning Hon. Rotimi Olowo representing Somolu Constituency I, recalled that in December 2016 the Lagos State House of Assembly passed a Budget size of BN812, 998,290,343. He stated that the need for the mid-year appraisal is to ensure that the indices are met. “The appraisal will give hindsight and ensure that Ministries, Departments and Agencies (MDAs) are given a wake-up call so as to avoid a lopsided budget.
He further stated that the appraisal will help to ascertain the holistic performance of Y2017 and would disclose the level of performance by MDAs.’’
In his contribution, Hon.Agunbiade representing Ikorodu Constituency I said that the budget review is one of the critical functions of the legislature and it is imperative because it will show the level of compliance in relation to the revenue generation of the State.
Hon. Rotimi Abiru, added that the appraisal has helped in massive investment in security, infrastructure and social development, “despite the economic challenges, life saving projects have been embarked upon in Lagos State, salaries are being paid and the issue of pension has been settled”
The Speaker, Rt. Hon Obasa reiterated that the need to examine the budget is to encourage the masses to have in-depth knowledge and how much performance is recorded in each of the MDAs. “The budget will help to know how much is proposed in the revenue and prepare ourselves towards the Y2018 budget proposal” he added.
To this end, the Speaker resolves that the Committee on Economic Planning and Budget should embark on the assessment of the 2017 Mid-Year Budget of Ministries, Departments and Agencies (MDAs) from Monday 17th July, 2017 to report back in 4 weeks.