The Lagos State Governor, Mr Babajide Sanwo-Olu, has presented a budget estimate of N2.2 trillion for the 2024 fiscal year to the state House of Assembly.
Sanwo-Olu sayd the budget, tagged “Budget of Renewal” will further cushion the effects of the fuel subsidy removal and other economic hardships on the people of Lagos.
Presenting the budget at the Chamber of the Lagos State House of Assembly, Assembly Complex, Alausa, Ikeja, the governor pointed out that the proposed budget comprises N1.02 trillion recurrent expenditure, which is 45 per cent of the total budget, and N1.22 trillion capital expenditure, which is 55 percent of the budget.
He also noted that the process of putting the budget together was guided by his administration’s T.H.E.M.E.+ Agenda, which, according to him is building on previous budgets of his government since inception in 2019.
