 Lagos State Governor Babajite Songwuolu has presented the year's 2024 budget estimates of 2.2 trillion naira to the Lagos State House of Assembly. Addressing the hallowed chambers, Governor Songwuolu said that the 2024 budget was to build on previous years. The dice event kicked off with a review of precedents of last sitting by the House. It was followed by arrival of Governor Songwuolu at about 1.35 pm into the hallowed chambers signifying full commencement of the day's business. Speaker of the House, Modashiru Obasa, then announced the return of Honourable Raouf Agi Suleyman, a member representing Amuadofi constituency, back into the House. Thereafter, a motion was moved to allow Governor Songwuolu into their midst for the budget presentation. Governor Songwuolu went straight to business. Christend, budget of renewal, the Governor presented a total size of 2.2 trillion naira to the House. Total expenditure is projected at 1.22 trillion naira, representing 54.4% of the total budget. By the recurrent stands at 1.02 trillion naira, including overhead and personnel costs, as well as recurrent debt service. The state's projected revenue stands at 1.847 trillion naira. This includes internally generated and allocation from the federal government. The Governor is hopeful of a positive turnaround from the year 2024 budget. If we equally propose a recurrent expenditure of 1.02 trillion, which comprises of total overhead, total personnel costs and recurrent debt service broken down as follows. Total overhead costs, 5.27.7 billion. This is made up of overhead, 304.7 billion. Subvention, 123.01 billion. Dedicated funds amounted to 100.02 billion. Personnel costs amounted to 319.23 billion. Recurrent debt service at 174.94 billion. For capital expenditure, we propose a total of 1.224 trillion. As follows, capital expenditure, 8.56.38 billion. Retainment, 367.89 billion. Saoualo also took time out to highlight the performance of the 2023 fiscal budget. We have delivered several, several thousands of houses and stores and workshops in different parts, including at Igonto, Bokushi, Konrei, Leiki Phase 2, Koshofa, Nongone, Oba, and Kosinjie, and Takara, and Shobutedo, in Itamanu, and to mention a few. We are also commencing our conversation at Yuki, the proposed Immortal Worker City, which is meant to produce about 3,500 new homes, and which will also be supported by a market financing. We also make retail with our MSMEs and standard supports. Responding, the Speaker of the House reminded the Governor of the harsh economic realities of the day, stressing that the next year's budget must be tailored towards mitigating the effects. The provision of subsidized food materials should be encouraged. In like manner, raw food mashup will bring food items from Itamanu should be put in consideration. The government can help subsidize the transportation system. This will, in turn, be to the crash in the course of full crisis and make them affordable. While we appreciate the climate summary, it is expedient to note that it has always led to inflation. In that case, it has never been left food. Right from that day, we have cases of salary being increased, but it has usually been counterproductive, as it has never really solved the economic challenges of the masses. Obesad noted that it was highly important to apply the right indices to ensure performance that would lift the people out of poverty and reposition the state towards infrastructural growth and renewal. Love Ikuku Uyeduku, plus TV News. The Ministers of Trade, Industry and Investment, Doris and Kiruka Anite faced intense scrutiny on Tuesday from members of the Joint Senate and House of Representatives Committee on Trade, Industry and Investment during a budget defence hearing. The committee extensively questioned the minister's proposal to allocate 1 billion Naira for a trip to Geneva in 2024, a provision that the ministers struggled to substantiate. In response to the budget documents submitted to the committee, members expressed disbelief and outrage at the proposed allocation of 1 billion Naira for a Geneva trip. They raised concerns regarding how this substantial expenditure aligned with the co-mandate of the Ministry of Trade, Industry and Investment. As per the customary budget defence procedure, the minister was called upon to elucidate the rationale behind the proposed budget and report on the performance of the 2023 budget. Senator Adam Soshimoli, representing a do not senatorial district and a former governor, voiced reservations about the planned 1 billion Naira trip to Geneva. What is the balance of trade between Nigeria and countries other than the European Union? What is the balance of trade between Nigeria and the United Kingdom? Most of our major trading partners. I want to talk about balance of trade, delete oil. The other one is an international product so that we can appreciate how much we have gained in terms of giving all the money we spent over the years on export promotion and all the institutions we've set up, whether they are banks, their commission, whatever they are. So it can give us a window whether we're not just throwing money away. We probably have far more institutions, whether financial institutions or other commissions with the whole primary objective to promote export. The 2024 budget of the ministry is made up of selected projects and programs designed to stimulate economic growth and national development. These projects and programs are also intended to fast-track the attainment of the renewable but gender in the industry, trade and investment ministry. The ministry remains committed to achieving the vision of promoting economic growth, creating jobs and generating wealth as well as formulating and implementing policies and programs that will attract both foreign direct investment and increase local participation by local industries, boost industrialization, increase trade and exports and also encourage development of enterprise. Addressing the minister, Senator Sumole accused her of an inadequate effort to in promoting the nation's interest and demanded details of the country's trade balance with other nations. He inquired whether the ministry had formulated strategies to enhance exports and curtail imports, thereby improving the nation's trade equilibrium. There is one committee that I've attended and this is something the senator has to look at. Every fine Nigeria has to travel, including your ministry. We always have the larger delegation of Nigerians. To trade missions, now I see your proposal, you have trade missions in Geneva. I've got to spend almost over 1.70 billion Naira to maintain your Geneva office, which means ideally you have trade experts in that office. And when I used to go to Geneva, where Nigeria's ministers call with 30 man delegation, America will use their trade officers in Geneva to attend those meetings. They are just pure technical people. In Nigeria, the minister will lead the delegation and by the time you multiply Naira and I don't know what the answer could be now, times water and whatever it is, you'll find that ministers are trying to help put their people on trips to attend the meetings and they spend most of that time shopping.