JUST IN: Sanwo-Olu signs 2023 budget of N1.768trn into law


Lagos State Governor, Mr. Babajide Sanwo-Olu (middle) signing the Y2023 Appropriation bill into law at the Conference room of Lagos House, Alausa, Ikeja, on Friday, 27 January, 2023. With him are Deputy Governor, Dr Obafemi Hamzat (left); Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo, SAN (second left); Chairman, Lagos House of Assembly Committee on Appropriation, Hon Gbolahan Yishua (second right) and Commissioner for Economic Planning and Budget, Mr Sam Egube (right).

Lagos State Governor, Babajide Sanwo-Olu on Friday signed the 2023 budget of N1.768 trillion into law.

The Lagos State House of Assembly had on 12 December passed a total of ₦1,768,014,155,285 as the budget for 2023, jacking it up by N78 billion.

The governor is signing the budget into law over one month after it was passed by the House of Assembly.

A breakdown of the budget size shows the sum of N748,096,508,571 as Recurrent expenditure and N1,019,917,646,713 as Capital expenditure for the year ending 31st December, 2023.

Speaking, Sanwo-Olu assured Lagos residents that the budget would be channeled to completing ongoing projects, including the blue and red rail lines.

Related News

He said that electioneering would not slow down the pace of development.

Sanwo-Olu thanked residents for playing their parts through the payment of taxes and solicited their support to achieve more.

Earlier, Chairman, House Committee on Appropriation, Gbolahan Yishawu, commended the Sanwo-Olu’s administration for the construction of people-oriented projects and promised that the House would continue to support the executive arm of government

While presenting the appropriation bill to the Governor, the Commissioner for Economic Planning and Budget, Sam Egube explained that it passed through a rigorous process during which all stakeholders were carried along.

Load more