Lagos State’s governor recently signed the 2025 appropriation bill, amounting to ₦3.366 trillion, into law. The budget, named ‘Budget of Sustainability,’ was signed at Lagos House, Alausa, Ikeja. The governor emphasized that the budget is focused on improving infrastructure, economic diversification, and other vital sectors within the state. He also highlighted the government’s commitment to providing governance that is responsive and respectful to the people’s needs.
In his address, the governor urged the civil service and other stakeholders to ensure effective implementation of the budget in the upcoming year. He commended the Speaker of the Lagos State Assembly and the House leadership for swiftly passing the budget. The budget allocates 62% to capital expenditure and 38% to recurrent spending, showcasing the government’s dedication to infrastructure development and efficient service delivery.
The Lagos State Commissioner for Economic Planning and Budget emphasized that the budget reflects the state’s focus on long-term investments and essential service delivery. The revenue framework projects a substantial amount from internally generated revenue and federal transfers, with deficit financing carefully structured to maintain financial prudence.
The Chairman of the House Committee on Appropriation highlighted the budget’s provisions for electricity, road infrastructure, education, and other developmental aspects to meet the needs of Lagos residents. The budget, initially estimated at N3,005,935,198,401, was swiftly passed by the State Assembly, totaling N3,366,815,224,144. The budget approval followed the presentation of a budget report and a voice vote during a session chaired by the Speaker.