Lagos State Governor Babajide Sanwo-Olu has presented N3.005 trillion before the state House of Assembly as a proposed budget for the year 2025.
Sanwo-Olu, while briefing the lawmakers on Thursday in Alausa, stressed that the focus of the budget is on infrastructural development and sustainability.
He said the budget, which is tagged “Budget of Sustainability,” seeks to focus on capital projects aimed at economic growth and development.
A breakdown of the budget revealed that N1.7 trillion was proposed for capital budget, while N1.2 trillion was set aside as recurrent budget in the coming year.
“Total revenue comprises our internally generated revenue of N1,970,897,000,000 and total federal transfers of N626,137,000,000,” the governor said.
In attendance at the presentation of the budget were the Deputy Governor, Dr. Femi Hamzat, and Speaker, House of the Assembly, Mudashiru Obasa, among other dignitaries.