The speaker of Lagos State House of Assembly, Rt. Hon. Mudashiru Ajayi Obasa has said that comprehending what budget process constitute was germane to their oversight functions as lawmakers.
Obasa made this disclosure in his keynote address delivered on Saturday during the opening ceremony of a 3-day budget retreat organised by the Lagos Assembly at Abeokuta, Ogun state.
“Comprehending what budget process constitute is germane to our daily oversight functions. While we may not be new to basic components of budget, it is a matter of importance that we refresh our understanding about budget implementation
“This need is as important as the need to apply all the components to the development, monitoring and Implementation of the budget “, Obasa said.
The Speaker who was represented by the Deputy Speaker, Hon. Wasiu Sanni-Eshinlokun in his address harped on the importance of budgeting and money management to living a debt -free life.
He said, “One of the most difficult situations people face in life is financial difficulties. The main reason for this is poor budgeting. Often time, people are not taught how to budget early enough in life to understand how important good money management is to living a debt-free life.”
The Clerk of the House, Mr Azeez Sanni, earlier in his welcome address said, the retreat was organised to access the financial position of the state and explore ways to achieve a realistic year 2020 Budget.
Sanni said the retreat would be reviewing the extent of the implementation of the year 2019 Budget, analyzing the viability of the year 2020 Budget proposal.
The clerk said this would be achieved towards making informed position and exploring the best ways to implementing same to meet emerging challenges of the state.
“In line with the constitutional responsibilities of the House, the appropriation bill has gone through the second reading and stands committed to the relevant committees of the House for further legislative action.
“Considering the combined and determine vision, aspiration and commitment of both the House and executive of arm of government ensuring a rapid transformation of the state. This is the most particularly in the realistic fulfillment of campaign promises to the citizens,” he said.
