A budget proposal for 2025, which was signed into law by the governor of Lagos State, Babajide Sanwo-Olu, on Thursday.
Governor Sanwo-Olu gave his assent at Lagos House, Alausa, Ikeja.
The budget tagged ‘ Budget of Sustainability, ‘ aims to address infrastructure, economic diversification, and other critical sectors in the state.
Governor Sanwo-Olu praised the House’s entire leadership and the House’s Speaker for allowing the budget to be passed quickly.
He claimed that the state government will also fulfill its obligation to provide people with responsive and respectful government at all times.
FLASH: Governor of Lagos State, Mr @jidesanwoolu today signed the Year 2025 Appropriation Bill into Law, today at the Conference Room, Lagos House Ikeja. Budget christened: “BUDGET OF SUSTAINABILITY”
TOTAL BUDGET SIZE: 3, 366, 815trn
CAPITAL EXPENDITURE: 2, 071, 185T (68%) … pic. twitter.com/LQRIE8a8CE
READ ALSO: Lagos Assembly Passes ₦3.4Trn Budget For 2025
Sanwo-Olu charged the civil service and all other parties involved in 2025’s impressive budget implementation.
The historic budget, according to the Lagos State Commissioner for Economic Planning and Budget Ope George, underlines the state government’s commitment to prioritize infrastructure, with 38% of all recurrent spending and 62% of capital expenditures.
According to him, the allocation reflects the government’s desire to promote long-term investments while ensuring the efficient delivery of essential services.
READ ALSO:  , Sanwo-Olu Presents ₦3trn 2025 Budget To Lagos Assembly
The revenue framework, which projects ₦2.342 trillion from total internally
generated revenue and ₦626.137 billion from federal transfers, is anchored on innovation, accountability, and fiscal sustainability. A deficit-financing plan
₦398.662 billion has also been carefully structured to ensure financial prudence.
The Chairman of the House Committee on Budget Sa’ad Olumo said the 2025 budget looks into the development of the state including electricity, road infrastructure, and education development, among others. He claimed that these will meet the demands of Lagosis.
Governor Babajide Sanwo-Olu had on November 21 presented a budget estimate of ₦3, 005, 935, 198, 401 to the Lagos State House of Assembly.
Source: Channels TV
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