- Lagos State Governor, Babajide Sanwo-Olu, presented the "Budget of Sustainability" to the State Assembly, focusing on infrastructure and economic growth
- The 2025 budget includes ₦1.7 trillion for capital expenditure to fund critical infrastructure, with a projected ₦1.97 trillion in IGR
- Deputy Governor Dr. Femi Hamzat and Speaker Mudashiru Obasa attended the presentation, underscoring strong political backing for the proposed budget
Lagos State governor, Babajide Sanwo-Olu, presented the 2025 state budget to lawmakers on Thursday, November 21, emphasising its focus on infrastructural development and sustainability.
Tagged the "Budget of Sustainability," the proposal highlights capital projects designed to drive economic growth and long-term development for the state.
The budget allocates ₦1.7 trillion for capital expenditure, aimed at funding critical infrastructure projects, while ₦1.2 trillion is earmarked for recurrent expenses.
The governor detailed the revenue structure, with internally generated revenue (IGR) projected at ₦1.97 trillion and federal transfers expected to total ₦626.1 billion for the year.
Sanwo-Olu’s budget presentation was attended by key figures, including Deputy Governor Dr. Femi Hamzat and Speaker of the Lagos State House of Assembly, Mudashiru Obasa, signaling broad political support for the proposed spending plan.
The focus on infrastructure, the governor noted, aligns with the administration's goal of fostering sustainable development and improving the quality of life for Lagos residents.
Lagos Red Line Rail begins operations, set to move 500,000 passengers daily
Meanwhile, TheRadar earlier reported that Lagos Red Line Rail launched for commercial service was projected to transport 500,000 passengers daily across eight stations.
Governor Sanwo-Olu emphasised efficient, safe operation and warned against vandalism.
