- Lagos State Governor, Babajide Sanwo-Olu, to present 2025 appropriation bill to House of Assembly on November 21, 2024.
- Budget expected to be above N2.267 trillion, with focus on infrastructure, environment, education, technology, security, and public safety.
- Budget themed “Budget of Sustainability” with five key pillars:
- Infrastructure Sustainability
- Economic Diversification
- Institutional Reforms
- 2024 budget allocation:
- N1.315 trillion (58%) for capital expenditure
- N952.4 billion (42%) for recurrent spending
- Governor promises transparent and accountable implementation, with benefits for greatest number of residents.
- Budget aims to bring new growth, improve quality of life, and transform businesses in Lagos.
Lagos State Governor, Babajide Sanwo-Olu, is set to present the 2025 appropriation bill to the Lagos State House of Assembly today, November 21, 2024. The budget, themed “Budget of Sustainability,” is expected to be above N2.267 trillion, with a focus on infrastructure, environment, education, technology, security, and public safety .
The budget structure is built around five key pillars: Infrastructure Sustainability, Economic Diversification, and Institutional Reforms. This ambitious budget aims to bring about new growth, improve the quality of life for residents, and transform the lives of businesses in Lagos .
In the 2024 budget, N1.315 trillion (58%) was allocated for capital expenditure, while N952.4 billion (42%) was for recurrent spending. The governor has assured that the implementation of the budget will be transparent and accountable, with the greatest benefits going to the greatest number of residents .
Sanwo-Olu had previously signed the N2.267 trillion 2024 Appropriation Bill into law on January 18, 2024, which ushered in a new expenditure cycle. The governor emphasized the importance of collective responsibility in ensuring the successful execution of the budget .
