Lagos State Governor Babajide Sanwo-Olu is set to present the 2025 budget proposal to the Lagos State House of Assembly today, November 21, 2024. The budget, which is expected to surpass the N2.267 trillion allocated for 2024, is being described as ambitious and forward-looking.
The State Commissioner for Information and Strategy, Gbenga Omotoso, confirmed the presentation in a statement, highlighting that it would take place at noon. Omotoso stated, “Governor Babajide Olusola Sanwo-Olu will present the Y2025 Appropriation Bill to the Lagos State House of Assembly on Thursday, November 21, at noon.”
This year’s budget, themed the “Budget of Sustainability,” aims to promote continuity, resilience, and prosperity for Lagos residents. It will focus on five main areas, including Infrastructure Sustainability, Economic Diversification, and Institutional Reforms.
In January 2024, Governor Sanwo-Olu signed the N2.267 trillion “Budget of Renewal” for that year into law. That budget allocated 58% (N1.315 trillion) to capital projects such as infrastructure, environment, education, and technology. The remaining 42% (N952.4 billion) went to recurrent expenses, including security and public safety.
At the time, the governor assured that the budget would enhance economic growth and improve residents’ quality of life. Sanwo-Olu also emphasized the importance of collaboration between the government and citizens for the successful implementation of the budget, pledging transparency and accountability in its execution.
The 2025 budget, expected to continue this trajectory, promises to build on existing projects and introduce new initiatives aligned with the state’s THEMES+ agenda. Residents eagerly await details of this new fiscal plan, which could shape the future of Lagos State.
