Sanwo-Olu presents N2.2 trillion budget for 2024 fiscal year

Admin I Wednesday, Dec. 13, 2023

IKEJA, Lagos, Nigeria – Governor Babajide Sanwo-Olu of Lagos today presented a budget of N2.2 trillion for the 2024 fiscal year to the state house of assembly.

The budget, entitled “Budget of Renewal” devoted N1.22 trillion for capital expenditure, while the remaining is for recurrent expenditure.

Speaking on the budget, Sanwo-Olu said the 2024 appropriation proposal will further cushion the effects of the fuel subsidy removal and other economic hardships on the people of Lagos.

He said 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.

The governor said his government had implemented 78 per cent of the budget as of the end of the third quarter and that 90 per cent implementation would have been achieved by the end of the year.