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Lagos State Governor Sanwo-Olu indicators N3.36 trillion 2025 funds into legislation 

Lagos State Governor Babajide Sanwo-Olu has signed the state’s 2025 Appropriation Invoice, valued at N3.36 trillion, into legislation.

The invoice, tagged the “Funds of Sustainability,” was signed on Thursday,ninth January on the Lagos Home in Ikeja based on a report by NAN.

Governor Sanwo-Olu described the 2025 funds as the most important ever by any sub-national authorities in Nigeria.

“On Nov. 21, 2024, I stood earlier than the Lagos State Home of Meeting to current the appropriation invoice – a blueprint for continuity, resilience, and sustainability. I thank the Lagos State Home of Meeting for giving this invoice an expedited motion. 

“It’s with a deep sense of duty that we’ve got signed this invoice into legislation. The N3.36 trillion funds has N1.295 trillion as overhead price and N2.07 trillion as capital expenditure,” he said.

The governor highlighted the formidable implementation goal, aiming to attain no less than 90% execution

“As you will have heard, it is going to be the most important sub-national funds, and we’re satisfied that we’ll do justice to it. On the minimal, we implement 90% to 95%.”

The governor additionally expressed gratitude to the Lagos State Home of Meeting, led by Speaker Mudashiru Obasa, for his or her collaborative efforts in passing the invoice

“On behalf of the state, I’ll like to precise appreciation to the Speaker of the meeting, Mr. Mudashiru Obasa, and all the members,” he mentioned.

The ceremony was attended by Deputy Governor Dr. Obafemi Hamzat, Secretary to the State Authorities Mrs. Abimbola Salu-Hundeyin, and different senior authorities officers.

Key focus areas 

The funds will prioritize 5 essential pillars;

  • Infrastructure sustainability
  • Financial diversification
  • Social inclusion and human capital growth
  • Environmental sustainability
  • Governance and institutional reforms

Sanwo-Olu emphasised the importance of infrastructure as a basis for progress:

“Infrastructure sustainability is the spine of any growth agenda. Within the coming three-year interval, we might be prioritising the upkeep, upgrading, and enlargement of current highway networks,” he mentioned.

Funding construction 

The state plans to generate N2.34 trillion internally and N626.13 billion from federal allocations. A deficit of N398.662 billion might be financed by way of structured funding to make sure monetary prudence.

The Commissioner for Financial Planning and Funds, Mr. Ope George, supplied additional insights into the allocations

“A few of the allocations made within the funds are training (N223.3 billion) and well being (N222.2 billion), underscoring our precedence to nurture a talented workforce and ship world-class healthcare providers. 

Recognising the worldwide urgency of environmental sustainability, we’ve got allotted N287.2 billion to environmental initiatives, additional demonstrating Lagos’s management as the primary state to ascertain a devoted Local weather Change Division and lead local weather motion on the sub-national stage,” he mentioned.

Chairman of the Lagos State Home of Meeting Committee on Appropriation Invoice, Mr. Saheed Olumo, pledged the meeting’s help for the administration’s efforts to ship dividends of democracy to residents.

Lagos State’s 2025 funds surpasses the N2.27 trillion funds for 2024 and the N1.77 trillion funds for 2023, reflecting a constant development of elevated fiscal planning to fulfill the state’s developmental wants.


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