The Lagos Assembly lawmakers have adopted the recommendations of the Committee on Finance on the 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, 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 to the said bill, and some observations were raised.

Subsequently, the Speaker of the House, Mudashiru Obasa, who presided over the plenary session, stressed the importance of ensuring that the governance structure for funds reflects competence, experience, and inclusiveness.

He thereafter adopted the committee’s recommendations as the House’s resolution, as amended.

In another development, Speaker Obasa has congratulated the lawmakers who emerged victorious in the just-concluded primary election of the All Progressives Congress (APC) and implored those who did not get the party’s ticket not to rest on their oars

Obasa urged them to ensure the prosperity and triumph of the APC party in the upcoming general elections.