Lagos state governor, Babajide Sanwo-Olu, has presented a budget proposal of N3.005tr for the year 2025 to the State House of Assembly, with a clear focus on economic growth and long-term sustainability.
The budget, which is themed ‘Budget of Sustainability’ is said to be a blueprint for continuity, resilience and prosperity for Lagosians.
The budget breakdown reveals that N1.7 trillion (59%) is earmarked for capital expenditures, while N1.2 trillion (41%) is designated for recurrent costs.
This was made known via the X handle of the Governor's Senior Special Assistant on New Media, Jubril Gawat, on Thursday, November 21.
The proposed budget now awaits further review and approval by the Lagos State House of Assembly.
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