Lagos Governor Sanwo-Olu Signs N2.26 Trillion 2024 Budget into Law

Governor Babajide Sanwo-Olu of Lagos State has officially given his endorsement to the state’s N2.26 trillion appropriation bill, transforming it into law. The bill, initially presented to the State House of Assembly with a budget estimate of N2.246 trillion for the year 2024 on December 13, 2023, was formally signed into law on Monday at the Government House in Alausa, Ikeja.

Sharing the news on his Instagram page, Governor Sanwo-Olu marked the occasion, stating, “Today, I signed the N2.267 trillion 2024 Appropriation Bill of Lagos State into law, marking the start of a new expenditure cycle.” He elaborated on the budget’s focus, saying, “This Budget of Renewal prioritizes infrastructure, environment, education, and technology, with increased allocation for security and public safety.”

Governor Sanwo-Olu provided insight into the budget’s distribution, mentioning, “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.”

Highlighting the importance of transparent and accountable implementation, the governor assured the citizens, saying, “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.”

Quest: Cris-Edesiri Odjomah

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