Lagos State 2025 Budget:
- Lagos State Governor, Babajide Sanwo-Olu, presents 2025 budget estimate of N3.005 trillion.
- Budget titled “Budget of Sustainability”.
- Total revenue: N2.60 trillion, deficit financing: N408.92 billion.
Budget Breakdown:
- Recurrent expenditure: N1.239 trillion (41%).
- Capital expenditure: N1.766 trillion (59%).
Assembly’s Response:
- Speaker, Mudashiru Obasa, assures speedy passage of the budget.
- Lawmakers to commence work on the budget immediately.
Lagos State House of Assembly Speaker, Mudashiru Obasa, has assured that the lawmakers will not delay the passage of the 2025 budget estimate of N3.005 trillion. This assurance came after Governor Babajide Sanwo-Olu presented the 2025 budget estimate to the assembly. The budget, titled “Budget of Sustainability,” comprises a total revenue of N2.60 trillion and deficit financing of N408.92 billion .
Obasa emphasized that the lawmakers will commence work on the budget immediately to ensure its speedy passage in the interest of the state. He appealed to the governor and the people of the state to give the House sufficient time to do a thorough job on the budget, ensuring that the interests of Lagosians are protected socio-economically and politically .
The budget is made up of a recurrent expenditure of N1.239 trillion (41%) and capital expenditure of N1.766 trillion (59%). It will be sourced from a total revenue of N1.97 trillion and total Federal transfers of N626 billion .
