Lagos State Governor, Babajide Sanwo-Olu, has presented a proposed N3 trillion budget for the 2025 fiscal year to the Lagos State House of Assembly.
Dubbed the “Budget of Sustainability,” the proposal aims to drive resilience and foster shared prosperity among Lagos residents.
Sanwo-Olu highlighted that the budget is focused on sustainable growth, economic development, and social inclusion, with key plans to enhance infrastructure, diversify the economy, improve human capital, and implement governance reforms.
The budget allocates 41% (N1.239 trillion) to recurrent expenditure and 59% (N1.766 trillion) to capital expenditure, with a strong emphasis on critical sectors to strengthen Lagos’ economic position and uplift the living standards of its people.
This budget reflects the administration’s commitment to ensuring Lagos remains a leading example of urban development and long-term sustainability, addressing current challenges while creating new opportunities for all. The House of Assembly is set to review and discuss the proposal in the coming weeks.
