Connect with us


Sanwo-Olu signs Lagos 2022 budget of N1.758tr



The Lagos State Governor, Babajide Sanwo-Olu on Friday signed the state’s 2022 budget of N1.758 trillion into law.

Sanwo-Olu, who signed the budget at the Lagos House in Alausa, Ikeja, said the increase in this year’s appropriation bill followed the resolve by the state House of Assembly and Executive to explore all financing options for the Blue and Red Line rail project and other capital projects in the state.

He said: “This budget represents 66 percent capital expenditure and 34 percent recurrent expenditure. Through this, we are creating significant value for our people and we are assuring you of a stronger 2022.

READ ALSO:LAGOS BUDGET: Assembly insists Ambode must do the right thing

“We are excited with what we can do for our people and we believe it will further consolidate our efforts in all areas. We’ll see greater impacts and real dividends to the people.”

The Assembly passes the budget on December 29.

In the budget, the sum of N591.2 billion was earmarked for recurrent expenditure and N1.66 trillion for capital spending.

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

two × three =