Sanwo-Olu presents N1.388trn 2022 budget to Lagos Assembly

Lagos Governor Babajide Sanwo-Olu has presented a budget estimate of N1.388 trillion for the 2022 fiscal year before the State House of Assembly.

The total budgetary proposal is ₦1,388,285,459,990.51, comprising total revenue of ₦1,135,159,092,822.30 and deficit financing of ₦253,126,367,168.21.

The recurrent expenditure stands at ₦564,934,331,886.41 (41%) while capital expenditure is ₦823,351,128,104.10 (59%).

The budget will focus on education, infrastructure, health and human capital development.

More to come later…

Author

Farouk Mohammed

Farouk Mohammed is the Publisher and Lead Editor of Okay News, an international digital news platform delivering verified reporting across technology, global affairs, business, innovation, and development. He has over a decade of experience in journalism and international media, with a strong focus on geopolitics, conflict reporting, human rights, and the global digital economy.