Following the economic damage caused by the COVID-19, Lagos State Executive Council yesterday disclosed plan to revise the state's 2020 budget by 21 per cent, from the N1.168 billion hitherto approved by the State House Assembly to N920.5 billion.
Lagos State Commissioner for Economic Planning and Budget, Mr. Sam Egube, made this known during an interview in Lagos.
Egube stated that part of the state's holistic approach to the COVID-19 shock already adopted by the government going forward include maintaining a strong pandemic response, restarting the economy and reimagining the way Lagos State operates.
He explained that with the strong pandemic response, the state government would engender food security and safety net mechanism, economic stimulus, and ensure public safety and wellbeing.
"To restart the economy, we are going to optimise the state's budget for investments in jobs and priority sectors through job creation, economic stabilisation and fiscal consolidation.
