Goverror Babajide Sanwo-Olu of Lagos State said the state government will allocate the budget of N2.246 trillion for the 2024, focusing on capital expenditure to propel the state’s progress in vital sectors like transportation, healthcare, education, and infrastructure.
Governor Sanwo-Olu said the state government focus remains clear to ensure the people’s welfare amidst economic shifts and necessary decisions by the Federal Government while also building for the future.
With a total revenue of N1.847 trillion, including IGR of N1.251 trillion and Federal Transfers of N596.629 billion, this budget focuses on a recurrent expenditure of N1.021 trillion and N1.224 trillion for capital investment, fostering growth aligned with our #THEMES+ agenda.
This budget he said, “is very important to us and I will start by talking about some of the strides we have made that this budget will help us accelerate.
“We are at various stages of securing the PPPs and financing for audacious infrastructure initiatives like: The Lekki-Epe International Airport, our Food and Logistics Hub, the second phase of the Lagos Metro Blue Line and the 4th Mainland Bridge.
“With this new budget, our commitment to transportation upgrades is evident with the expansion of rail networks, increased ferry services, road constructions, and the commissioning of new bridges, ensuring smoother commuting experiences.
Infrastructure development, environmental sustainability, entertainment, gender equality, and youth-focused projects stand at the heart of this budget, aimed at creating a vibrant, inclusive, and sustainable Lagos.”
