Lagos Assembly adopts comm’t recommendations on Wealth Fund Bill 2025

Lagos Assembly Lawmakers during Plenary has adopted the recommendations of the Committee on Finance on Lagos State Wealth Fund Bill, 2025 as the resolutions of the House as amended on Thursday.

This was a sequel to the report presented by the Chairman of the Committee on Finance, Hon. Obafemi Saheed on “A Bill for a Law to Establish the Lagos State Wealth Fund to Receive, Manage and Invest in a Diversified Portfolio of Medium and Long-Term Assets for the benefit of Lagos State and Future Generations of its Indigenes and Residents and for connected purposes”.

It would be recalled that the Bill which scaled through the second reading was committed to the Committee to report its findings to the House.

Following the Presentation of the report, Lawmakers contributed extensively on the said Bill and some observations were raised.

Subsequently, the Speaker of the House, Rt. Hon. Mudashiru Ajayi Obasa who presided over the plenary session stressed the importance of ensuring that the governance structure of funds must reflect competence, experience and inclusiveness.

He thereafter adopted the recommendations of the Committee as the resolution of the House as amended.

In another development, Speaker Obasa congratulates the Lawmakers who emerged victorious in the just concluded Primary Election of the All Progressives Congress (APC) and implore those who did not get the party’s ticket not to relent on their oars and as well urge all to ensure the prosperity, triumph of the APC party in the upcoming general election.