Lagos State Governor Babajide Sanwo-Olu has submitted a proposed N3.005 trillion budget for 2025 to the State House of Assembly, emphasizing infrastructure development and sustainability.
Presented on Thursday in Alausa, the "Budget of Sustainability" prioritizes capital projects to drive economic growth and enhance development.
Sanwo-Olu highlighted the budget's focus on creating resilient systems for long-term progress, signaling continued investment in key sectors to improve the quality of life for Lagos residents.
A breakdown of the budget revealed that N1.7 trillion was proposed for capital budget, while N1.2 trillion was set aside as recurrent budget in the coming year.
“Total revenue comprises our internally generated revenue of N1,970,897,000,000 and total federal transfers of N626,137,000,000,” the governor said.
In attendance at the presentation of the budget were the Deputy Governor, Dr. Femi Hamzat, and Speaker, House of the Assembly, Mudashiru Obasa, among other dignitaries.