Sanwo-Olu said the N2.2 trillion 2024 ‘budget of Renewal’ which is a consolidation on the 2023 ‘Budget of Continuity,’ will focus on the provision of very important infrastructure such as Fourth Mainland Bridge, Food and Logistics Hub, Lagos/Epe International Airport, among others, for the people’s benefit.
By Emma Ogbuehi
Lagos State has once again burst the budget chart, way beyond what other state governors are projecting for the 2024 fiscal year.
Governor Babajide Sanwo-Olu, on Wednesday, December 13, presented a whopping N2.2 trillion Appropriation Bill to the House of Assembly as a proposed budget for the 2024 fiscal year.
The Appropriation Bill, titled, ‘Budget of Renewal’ comprises recurrent expenditure of N1.02 trillion (45 percent) and capital expenditure of N1.224 trillion (55 percent).
The Economic Affairs takes a chunk of the budget proposal with N539 billion.
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The governor noted that the 2024 budget proposal will further cushion the effects of the fuel subsidy removal and other economic hardships on the people.
He added that the budget, in building on the 2023 ‘Budget of Continuity’, will focus on the provision of very important infrastructure such as Fourth Mainland Bridge, Food and Logistics Hub, Lagos/Epe International Airport, among others, for the people’s benefit.
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