Ola Akinwunmi
The Lagos State Governor, Babajide Sanwo-Olu, has given his seal of approval to the 2025 appropriation bill, signing it into law at the Lagos State House, Ikeja. The N3.366 trillion budget, dubbed the “Budget of Sustainability,” aims to drive economic growth, create jobs, and improve the overall quality of life for Lagosians.
The budget allocates 68% of its total expenditure to capital projects, while 32% is dedicated to recurrent expenditure. This strategic allocation is expected to yield significant investments in infrastructure, environment, education, and technology.
Sanwo-Olu explained that the budget had capital expenditure of 68 percent while 32 percent was earmarked for recurrent expenditure, which he says translates to more infrastructural development, wealth and job creation for residents.
He said his administration is prioritising spending on infrastructure, environment, education and technology, just as it significantly raised allocation to security and public safety.
Governor Sanwo-Olu reaffirmed his administration’s commitment to successfully implementing the budget, ensuring that Lagosians reap the benefits of democracy. With this landmark budget, the Lagos State government is poised to make significant strides in sustainable development and economic growth.
