Lagos state governor Babajide Sanwo-Olu today, Wednesday, December 13, presented a N2.2 trillion appropriation bill to the House of Assembly as a proposed budget for the 2024 fiscal year.
The ‘Budget of Renewal’ comprises recurrent expenditure of N1.02 trillion (45 percent) and capital expenditure of N1.224 trillion (55 percent).
The Economic Affairs takes a chunk of the budget proposal with N539 billion.
The governor noted that the 2024 appropriation proposal will further cushion the effects of the fuel subsidy removal and other economic hardships on the people.
He added that the budget, in building on the 2023 ‘Budget of Continuity’, it will focus on the provision of very important infrastructure viz Fourth Mainland Bridge, Food and Logistics Hub, Lagos/Epe International Airport, among others, for the people’s benefit.
