Politics
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.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...