Babajide Sanwo-Olu, governor of Lagos, has officially endorsed the state’s N2.26 trillion appropriation bill into law. The bill, presented to the state house of assembly with a budget estimate of N2.246 trillion for the year 2024 on December 13, 2023, was signed into law on Monday at the government house in Alausa, Ikeja.
Sanwo-Olu shared the momentous occasion on his Instagram page, expressing, “Today, I signed the N2.267 trillion 2024 Appropriation Bill of Lagos State into law, marking the start of a new expenditure cycle. This Budget of Renewal prioritizes infrastructure, environment, education, and technology, with increased allocation for security and public safety.”
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Highlighting the budget’s structure, the governor mentioned, “Of the total budget, 58% goes to capital expenditure, while 42% is for recurrent spending. The additional allocation of N21.74 billion, approved by the Assembly, aims to complete key infrastructure and address priority areas.”
Governor Sanwo-Olu emphasized the significance of transparent and accountable implementation, assuring citizens, “I assure you all that transparency and accountability will be our watchword in the implementation of this budget, and I thank the Lagos State House of Assembly for their dedication to the people of Lagos during the budget review.”