Lagos State Governor, BABAJIDE SANWO-OLU has presented a budget proposal of 1.4 trillion Naira for the 2022 fiscal year to the State House of Assembly for consideration and approval.
The proposed 2022 budget is 138 billion Naira higher than the 2021 budget, which stood at 1.25 billion Naira.
The proposed 2022 budget size of N1.388,375,930,585, has 564.9 billion Naira for recurrent expenditure and capital expenditure of N823.5 billion.
Speaking at the budget presentation, SANWO-OLU, who tagged the 2022 appropriation as Budget of ‘Consolidation’, told the State lawmakers that the budget was intended to reflect the determination to rise above the challenges that had affected the development indices in the last 10 months, occasioned by COVID-19 pandemic challenges.
He added that the presentation of the 2022 budget was to allow for consolidation of the gains recorded by the government over the years.
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