Governor Babajide Sanwo-Olu has unveiled a proposed budget of N3.005 trillion for Lagos State for the 2025 fiscal year, emphasizing infrastructural development and sustainability.
The budget, tagged the “Budget of Sustainability,” was presented on Thursday to the Lagos State House of Assembly in Alausa.
The governor stated that the budget aims to prioritize capital projects that drive economic growth and development, aligning with the state’s long-term sustainability goals.
Budget Breakdown
The proposed budget allocates:
- N1.7 trillion for capital projects
- N1.2 trillion for recurrent expenditure
Governor Sanwo-Olu highlighted that the state’s revenue expectations are drawn from two major sources:
- Internally Generated Revenue (IGR): N1.97 trillion
- Federal Transfers: N626.1 billion
“This budget reflects our commitment to achieving sustainable growth and development across Lagos State,” Sanwo-Olu said during his address.
The budget presentation was attended by prominent dignitaries, including Deputy Governor Dr. Femi Hamzat, Speaker of the Lagos State House of Assembly Mudashiru Obasa, and other government officials.
