_*As Sanwo-Olu signs 2025 Appropriation bill into Law*_
The spokesperson of the Lagos State House of Assembly, Hon Ogundipe Stephen Olukayode with the Chairman of the Joint Committee on Appropriation and Finance, Hon Sa'ad Olumoh on Thursday led other members to the State House to present the 2025 budget for governor's assent.
Lagos State Governor, Mr Babajide Sanwo-Olu signed the budget estimate of N3.366 trillion Appropriation Bill for 2025 into Law.
The Governor gave his assent to the tagged ‘Budget of Sustainability,’ at the State House, Alausa, Ikeja.
The State House of Assembly had on January 6 passed the appropriation Bill for the Governor’s assent after careful consideration of a report from the joint committee on appropriation and finance.
Governor Sanwo-Olu had on November 21 presented a budget estimate of N3,005,935,198,401 to the state House of Assembly.
The Governor, during the presentation, told the lawmakers that the budget has a deficit financing of N408,902 billion adding that the deficit would be financed from external and internal loans and bonds.
The approved budget is made of N1,295,630,197,452 as recurrent expenditure while N2,071,185,026,692 is earmarked as capital expenditure for the year ending December 31, 2025.
This year budget aims to address infrastructure, economic diversification and other critical sectors in Lagos State.
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