Lagos Assembly Grants Over Three Trillion Naira Budget For 2025

The Lagos State Assembly has approved the sum of three point four trillion naira as the total budget of the state for 2025.
The approval came after the presentation of a report on the budget by the chairman of the joint committee on appropriation and finance, Mr Sa’ad Olumoh, and the subsequent voice votes by lawmakers at a sitting presided over by the Speaker, Chief Mudashiru Obasa.
The approved budget is made of one point three trillion naira as recurrent expenditure while over two trillion naira is earmarked as capital expenditure for the year ending December 31, 2025.
Chief Obasa, thereafter, directed the Clerk of the House, Mr. Olalekan Onafeko, to transmit a copy of the passed bill to Governor Babajide Sanwo-Olu for assent.
He thanked ed his colleagues for their painstaking efforts leading to the passage of the budget.
You will remember that Governor Sanwo-Olu had on November 21, presented a proposal of N3.005 trillion to the House for approval.
The Governor, during the presentation, told the lawmakers that the budget has a deficit financing of N408,902 billion adding that the deficit would be financed from external and internal loans and bonds.
Meanwhile, the Assembly during plenary on Monday, also passed a bill to consolidate all laws on local government administration in Lagos State.
The bill further makes provisions based on constitutional amendments as well as amendments by the National Assembly which have direct effects on the local governments in Lagos State.