Joint Committee on Economic Planning & Budget and Finance during the Y2021 budget defence of the Lagos State Ministries, Department and Agencies, MDAs on Monday, stressed that the Committee is focused on the policy issues, courses of action and funding priorities concerning capital expenditures such as project splitting. Addressing the MDAs, Chairman of the Committee, Hon. Gbolahan Yishawu stated that budget must be empirically tested as it must be proven and based on evaluation. “We are here to correct the system such as endless splitting and prolonging of projects, therefore you must let your budget brief address our fears.” It would be recalled that Governor Babajide Sanwo-Olu presented the budget proposal of ₦1.155,022,413.005 which was themed “Budget of Rekindled Hope” to the Members of the State Assembly on Tuesday, 10th of November, 2020. In order to fast track work on the defence, the Committee drew up plan with specific guide for Sub-committees to follow, in the processing of the Bill, and a timeline within which the MDAs are to submit and defend their budget reports. Expectedly, all MDAs are to appear before the Joint Committee chaired by Hon. Gbolahan Yishawu and Hon. Rotimi Olowo; along with their respective Commissioners, Permanent Secretaries, Directors of Accounts, Directors of Administration and Human Resource, Budget Officers and Project Officers. Further to the request of the Committee, the MDAs are to forward project briefs for the proposed Y2021 budget including the title of projects, project description, economic value of the project, purpose, time frame, contractor, cost implication and project status report on ongoing projects for Y2020 and all other outstanding project in line with the attached format. Additionally, the issues of exaggerated budget projections without proper justification, insufficient budget projection, cash flow of the ministry, opening and closing balance of the Ministry’s accounts amongst others are examined. The Joint Committee during Plenary was mandated by the House during the Plenary to scrutinize the budget for further legislative action and to report in six weeks from the date of the committal, Monday 16th, November 2020. So far, the Ministry of Economic Budget and Planning, State Auditor General, Public Private Partnership, Debt Management Office, Lagos Internal Revenue Service, LIRS has appeared before the Joint Committee on Monday.
