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Lagos State Governor, Sanwo-Olu Presents N2.2 Trillion Budget for 2024

Lagos State Governor Presents N2.2 Trillion Budget for 2024

Mr. Babajide Sanwo-Olu, the Governor of Lagos State, unveiled the Year 2024 Budget Estimates, amounting to an ambitious N2.2 trillion. Titled “Budget of Renewal,” the budget reflects the state’s commitment to revitalizing key sectors and driving sustainable development.

Budget Breakdown:

  • Total Budget: N2.2 trillion
  • Capital Allocation: N1.224 trillion (55%)
  • Recurrent Expenditure: N1.02 trillion (45%)

Performance Highlights:
Governor Sanwo-Olu expressed confidence that the 2023 Budget would achieve an impressive 90% performance by the end of December 2023, underscoring the state’s effective financial management and execution of planned initiatives.

Sectoral Allocations:

  1. Education: N199 billion
  2. Health: N156 billion
  3. Environment: N94 billion
  4. Public Order and Safety: N84 billion
  5. Social Protection: N50 billion

These allocations signify the state’s prioritization of key areas, emphasizing the importance of education, healthcare, environmental sustainability, public safety, and social welfare.

The unveiling of this substantial budget underscores Lagos State’s commitment to robust economic growth, infrastructure development, and the overall well-being of its residents. As the state continues its trajectory of progress, the 2024 Budget sets the stage for transformative initiatives and impactful investments.

Lagos State Governor Presents N2.2 Trillion Budget for 2024

Lagos State Governor Presents N2.2 Trillion Budget for 2024
Lagos State Governor Presents N2.2 Trillion Budget for 2024