*With the passage of the bill, we will continue our work of rebuilding Lagos, advancing economic growth, and expanding opportunities for Lagosians to flourish despite the economic challenges caused by the Coronavirus ─Governor Babajide Sanwo-Olu of Lagos State

Emmanuel Akosile | ConsumerConnect

Governor Babajide Sanwo-Olu of Lagos State has signed the state’s ₦1.55trillion Budget 2021 into law.

The governor, who signed the budget Thursday, December 31, 2020, promised that his administration would continue its work of rebuilding the cosmopolitan state, report said.

The Lagos State budget 2021 christened the ‘Budget of Rekindled Hope’, consists of N702, 935,416,976 capital expenditure and N460, 586,793,741 recurrent expenditure respectively.

Sanwo-Olu reiterated the government’s commitment to “advancing economic growth, and expanding opportunities” for residents of the state to flourish despite the economic challenges induced by the Coronavirus (COVID-19) pandemic.

He said: “With the passage of the bill, we will continue our work of rebuilding Lagos, advancing economic growth, and expanding opportunities for Lagosians to flourish despite the economic challenges caused by the Coronavirus.

“As we already know, 2020 will go down in history as a peculiar year largely defined by the COVID 19 Pandemic and the EndSARS protests, which were recklessly hijacked by those who destroyed some of our public assets and private businesses.

“We are, however, fortunate to be going into the New Year, with an already passed budget, which will help to expedite our recovery process.

The governor further stated: “A significant portion of the budget has been committed to human capital development, youth engagement, social intervention initiatives, and the completion of ongoing projects that are critical to achieving the objectives of our T.H.E.M.E.S agenda.

“The Honourable Commissioner for Economic Planning and Budget will present to the general public the full details and breakdown of the budget in due course.”