NIGERIA (Lagos)- A total sum of N489. 690 billion was approved as budget for the 2014 appropriation year by the Lagos State House of Assembly yesterday.

The amount is 3.43 per cent lower than the last year’s budget. Out of the total sum, N234.665billion is for recurrent while N255.025 billion is for capital expenditure.

Speaking during the plenary session, Speaker of the House, Mr. Adeyemi Ikuforiji, said the bill was passed into law after considering the report from the appropriation committee headed by Hon. Mudashiru Obasa.

The committee had read a breakdown of the budget on sectoral basis, even as the committee reduced allocations to some ministries, agencies and departments (MDAs) and added to others, based on their needs.

The breakdown of the budget shows that the state would spend the sum of N51.378 billion on Education, N22.07billion; Heath, N100.12 billion; Works and Infrastructure, N25.67billillion; Environment.

Others are Agriculture and Cooperative, N23.21billion, Transportation, N29.13billion, Information and Strategy, N28.73billion, Judiciary, N31.28billion, Commerce and Industry, N7.98billion and Women Affairs, Poverty Alleviation, N1.36billion and House of Assembly, N11.8billion.

The bill has been forwarded to Governor Babatunde Fashola for his assent.