Menu Close

N2.26trn Budget to address infrastructure upgrade, economic sustainability for Lagosians: Sanwo-Olu

Governor Babajide Sanwo-Olu of Lagos State (middle) Signs the 2024 'Budget of Renewal' into Law

*Governor Babajide Sanwo-Olu of Lagos State discloses the implementation of the 2024 Budget will help to advance better economic sustainability for Lagos residents, as it is designed in consonance with his administration’s THEMES Plus developmental agenda

Isola Moses | ConsumerConnect

Governor Babajide Sanwo-Olu of Lagos State has stated that his administration will complete ongoing projects and initiate new ones in the state.

ConsumerConnect reports Governor Sanwo-Olu Monday, January 15 signed the state’s N2.26 trillion appropriation bill into law at the Government House in Alausa-Ikeja.

The governor, who stated this at the 2024 Budget signing ceremony, also noted that the Lagos State Government (LASG) believes this year’s budget will help to advance better economic sustainability for Lagos residents, it is also done in alignment with his administration’s THEMES Plus developmental agenda.

It is recalled the Lagos Governor December 13, 2023, had presented a N2.246 trillion budget estimate for 2024 to the Lagos State House of Assembly.

During the presentation, Sanwo-Olu said the budget, which is christened, “Budget of Renewal”, is made up of recurrent expenditure of N1.02 trillion (45 percent) and capital expenditure of N1.2 trillion (55 percent).

On January 5, the Lagos state house of assembly passed the budget and the size was increased to N2,267,976,120,869

Speaking during the budget signing, the Lagos governor said his administration will complete ongoing projects and initiate new ones in the state.

“We believe that the numbers that have been set forward will not only help to advance better economic sustainability for our residents, it is also done in alignment of our THEMES plus developmental agenda.

“We, therefore, want to pledge to diligently work on the completion of a lot of our ongoing projects and successfully initiate new ideas and endeavours,” Sanwo-Olu said.

In the 2024 Budget the governor has just signed, N1,315,545,553,871 was earmarked for capital expenditure, while recurrent expenditure takes N952,430,566,998.

Kindly Share This Story

 

 

Kindly share this story