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Governor Babajide Sanwo-Olu presents the 2025 budget at the Lagos State House of Assembly on November 21, 2024 |
Governor Babajide Sanwo-Olu of Lagos State has proposed a budget of ₦3.005 trillion to the state House of Assembly for the year 2025.
During his presentation on Thursday, November 21, 2024, in Alausa, Ikeja, he highlighted that the budget prioritizes infrastructural development and sustainability, aiming to enhance the state’s growth and resilience.
Tagged the “Budget of Sustainability,” it seeks to focus on capital projects aimed at economic growth and development.
A breakdown of the budget shows that ₦1.7 trillion was proposed for the capital budget while N1.2 trillion was set aside in the budget before the lawmakers for the recurrent budget in the coming year.
“Total revenue comprises our Internally Generated Revenue of ₦1,970,897,000,000, and total Federal Transfers of ₦626,137,000,000,” the governor said.
Deputy Governor, Dr. Femi Hamzat, and Speaker, House of the Assembly, Mudashiru Obasa, among other dignitaries, were in attendance.
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