An estimated N2.2 trillion budget for the 2024 fiscal year was given to the state House of Assembly by Lagos State Governor Mr. Babajide Sanwo-Olu on Wednesday.
The budget was presented at the Lagos State House of Assembly’s Assembly Complex in Alausa, Ikeja, under the title “Budget of Renewal.”
The N1.02 trillion recurrent expenditure and the N1.22 trillion capital expenditure, which together account for 55% and 45% of the entire budget, respectively, make up the proposed budget.
The withdrawal of gasoline subsidies and other economic challenges on Lagos residents will be lessened, the governor said, with the 2024 appropriations plan.
He stated that his administration’s T.H.E.M.E.+ Agenda, which he claims is building on earlier budgets of his government from inception in 2019, served as the framework for assembling the budget.
Sanwo-Olu continued, saying that the budget will compile the accomplishments that his administration has made.
Regarding the 2023 budget’s performance, the governor stated that as of the end of the third quarter, his administration had executed 78% of the budget, and by the end of the year, he anticipated that at least 98% would have been completed.
Details later…
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