Governor Sanwo-Olu Approves Modified N2.267 Trillion Budget for Lagos State in 2024

Lagos State Governor Babajide Sanwo-Olu has officially approved the 2024 Appropriation Bill, signing off on a budget initially presented as the ‘Budget of Renewal.’ The proposed budget, initially set at N2.2 trillion, underwent modifications by the House of Assembly, resulting in an increased total budget size of N2.267 trillion.

The adjusted allocation divides the budget into N1.315 trillion for capital expenditure and N952 billion for recurrent spending, establishing a ratio of 58:42. This move aims to prioritize infrastructural development and essential recurrent expenses in the state.