The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has signed the Year 2025 Appropriation Bill into law, ushering in a new chapter in the state’s quest for sustainable development and progress.
Tagged the ‘Budget of Sustainability,’ the ₦3.37 trillion financial plan reflects a strategic roadmap to consolidate past achievements while laying a strong foundation for the future.
During the signing ceremony held today, Governor Sanwo-Olu emphasized that the budget is not merely a financial document but a firm commitment to delivering a Greater Lagos that works for everyone.
A significant portion of the budget is allocated to capital expenditure, which accounts for 61.4% of the total budget size.
This allocation highlights the government’s determination to invest in transformative projects that will stimulate economic growth, enhance infrastructure, and improve the overall quality of life for Lagosians.
The recurrent expenditure, pegged at ₦1.30 trillion, is meticulously designed to ensure the efficient functioning of government operations while bolstering critical sectors such as education, healthcare, and security.
This balanced approach underscores the administration’s dedication to fiscal discipline and service delivery.
Governor Sanwo-Olu reiterated that the ‘Budget of Sustainability’ will address key developmental areas, including infrastructure expansion, housing development, youth empowerment, and social interventions.
He assured that every allocation aligns with the administration’s vision of achieving sustainable progress and fostering inclusivity for all residents of the state.
“I want to express my gratitude to the Lagos State House of Assembly for their seamless collaboration in approving this budget, as well as to all Lagosians for their unwavering trust. Together, we will execute this financial plan to deliver tangible results and enduring impact. The year 2025 is not just another year; it is a year of bold actions and sustainable progress,” Governor Sanwo-Olu stated.
The Governor’s signing of the 2025 budget into law reinforces Lagos State’s leading position in driving innovation, infrastructure, and sustainability across Nigeria.
With its strategic focus, the ‘Budget of Sustainability’ is poised to propel the state toward achieving its long-term vision of economic resilience and inclusive growth.
“This is Lagos, and we lead,” the Governor concluded, signalling a year of transformative projects and impactful governance.
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