The appropriation bill was referred to the committee after it passed first and second reading on the floor of the House.
The State Pension Bill, 2016 was also read for the first time at plenary on Wednesday.
While deliberating on the appropriation bill, the Chairman of the House Committee on Information, Dr Samuel Omotoso, spoke of the need to give the bill accelerated passage, describing it as a budget of reality.
Other lawmakers including Fajana Ojo-Ade, Badejo Anifowose and the Deputy Speaker, Mr Segun Adewumi, commended the governor for the prompt presentation of the budget.
They urged other members of the Assembly to ensure speedy passage of the bill.