Posted by Amarachi on Fri 22nd Nov, 2024 - tori.ng
The budget, termed the "Budget of Sustainability," focuses on fostering resilience and shared prosperity for residents of the state.
Gov Babajide Sanwo Olu of Lagos State has presented the proposed N3 trillion budget for the 2025 fiscal year, to the State House of Assembly.
The budget, termed the "Budget of Sustainability," focuses on fostering resilience and shared prosperity for residents of the state.
Sanwo-Olu emphasized that the proposal is centered on sustainable development and economic growth, highlighting plans to address infrastructure, economic diversification, social inclusion, human capital development, and governance reforms.
With a breakdown of 41 percent allocated to recurrent expenditure (N1.239 trillion) and 59 percent to capital expenditure (N1.766 trillion), the budget prioritizes investment in critical sectors to enhance Lagos’ economic standing and improve the quality of life for its citizens.
The proposed budget aligns with the administration’s vision to ensure Lagos remains a model for urban development and sustainable progress, addressing challenges while creating opportunities for all. The House of Assembly will deliberate on the budget in the weeks ahead.