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.”
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.”
The post Sanwo-Olu signs N2.26trn 2024 Lagos budget into Law appeared first on OloriSuperGal.
