*Governor Babajide Sanwo-Olu of Lagos State assents to N3.366 trillion Budget 2025 tagged, 鈥楤udget of Sustainability’, which aims to address infrastructure, economic diversification, and other critical sectors in the state

Isola Moses | 绿帽献妻

Governor Babajide Sanwo-Olu of Lagos State of Nigeria Thursday, January 9 signed the state’s 2025 Budget estimate totalling N3.366 trillion into law.

绿帽献妻 reports Governor Sanwo-Olu gave his assent to the 2025 Appropriation Act at Lagos House, Alausa-Ikeja, the state capital.

Earlier, Governor Sanwo-Olu November 21, had presented a budget estimate of N3,005,935,198,401 to the State Assembly.

In his remarks on the occasion, the Lagos State Governor noted the 2025 Budget tagged, 鈥楤udget of Sustainability’, aims to address infrastructure, economic diversification, and other critical sectors in the cosmopolitan state.

The Lagos Governor commended Rt. Hon. Mudashiru聽 Obasa, Speaker of the Lagos State House of Assembly, and the entire leadership of the House for the prompt passage of the budget.

The state government will also live up to the responsibility of delivering governance that is respectful of and responsive to the people at all times.

Affirming the event, Jubril A. Gawat, Senior Special Assistant to the Governor of Lagos State on New Media (@Mr_JAGs) January 9, 2025, also wrote: “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: 鈥淏udget of Sustainability’, and Total Budget Size: 3,366,815trn; Capital Expenditure: 2,071,185T (68%).

Sanwo-Olu, therefore, charged the State Civil Service, and all other concerned stakeholders to deliver an impressive level of budget implementation in 2025.

Also speaking on the occasion of budget signing, Ope George, Lagos State Commissioner for Economic Planning and Budget, said the historic budget underlined the state government鈥檚 commitment to prioritising infrastructure with 62 percent allocated to capital expenditure and 38 percent to recurrent spending.

The allocation represents the government鈥檚 focus on driving long-term investments while maintaining efficient delivery of essential services,” stated he.

The revenue framework, which projects N2.342 trillion from total internally generated revenue and N626.137 billion from Federal transfers, is anchored on innovation, accountability, and fiscal sustainability.

A deficit financing of N398.662 billion has also been carefully structured to ensure financial prudence.

In his comment, Sa鈥檃d Olumo, Chairman of the House Committee on Budget, said the 2025 Budget looks into the development of the state including electricity, road infrastructure, and education development, among others.

The lawmaker said those would address the needs of Lagos residents.

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