In a significant move, Governor Babajide Sanwo-Olu of Lagos State has officially signed the 2024 Appropriation Bill into law, marking a substantial increase of N21.74 billion from the initially proposed N2.246 trillion ‘Budget of Renewal’.
During the signing ceremony at the Lagos House Ikeja, Governor Sanwo-Olu emphasized that the revised budget size now stands at N2.267 trillion, comprising N1,315,545,553,871 for capital expenditure and N952,430,566,998 for recurrent expenditure, showcasing a ratio of 58:42.
The Governor clarified that the augmented budget reflects additional provisions to ensure the completion of ongoing projects, thus elevating the approved budget size by N21.74 billion.
Governor Sanwo-Olu underscored the critical importance of effective implementation to realize the impact of the budget. He further expressed the government’s unwavering commitment to maximizing the goals and objectives of the budget to benefit all residents, aligning with the THEMES+ development agenda.
Furthermore, Governor Sanwo-Olu highlighted the government’s dedication to ensuring the successful completion of ongoing projects and the seamless commencement of new initiatives, urging all residents to actively participate in driving the successful implementation of the budget by fulfilling their civic obligations.
