Lagos State Governor Babajide Sanwo-Olu on Thursday presented a proposed budget of N3.005 trillion for the 2025 fiscal year to the State House of Assembly.
Addressing lawmakers in Alausa, Governor Sanwo-Olu emphasized that the “Budget of Sustainability” prioritizes infrastructural development and economic growth through capital-intensive projects.
A detailed breakdown of the budget shows N1.7 trillion allocated for capital projects, while N1.2 trillion is earmarked for recurrent expenditures.
“Our total revenue projection includes N1.97 trillion from internally generated revenue and N626.14 billion from federal transfers,” the governor stated.
Dignitaries present at the budget presentation included the Deputy Governor, Dr. Femi Hamzat, and the Speaker of the State House of Assembly, Mudashiru Obasa, among others.
Governor Sanwo-Olu expressed optimism that the proposed budget would bolster sustainable development and improve the standard of living for Lagos residents.
