Sanwo-Olu Signs Bill with N21.74 Billion Increase

Governor Babajide Sanwo-Olu of Lagos State sealed the deal on Monday by signing the 2024 Appropriation Bill into law, incorporating an additional N21.74 billion to the initial N2.246 trillion ‘Budget of Renewal’ presented earlier.

At the signing ceremony held at the Lagos House Ikeja, the governor revealed that the adjusted budget size now stands at N2.267 trillion, with N1,315,545,553,871 allocated for capital expenditure and N952,430,566,998 for recurrent expenditure, maintaining a ratio of 58:42.

“The approved budget size is N21.74 billion higher than what was presented to the House of Assembly due to additional provisions to enforce completion of ongoing projects,” Governor Sanwo-Olu explained.

Emphasizing the critical role of effective implementation, the governor stressed that the impact of the budget would be measured by how well it is executed. He reiterated the government’s determination to ensure that the goals and objectives of the budget are fully realized, aligning with the THEMES+ development agenda for the benefit of all residents.

Sanwo-Olu committed the government to diligent efforts in completing ongoing projects and facilitating the seamless commencement of new ones. He called on residents to actively contribute to the success of the budget’s implementation by fulfilling their civic obligations in a committed manner and on schedule.