November 24, (THEWILL) – Lagos State Governor, Babajide Sanwo-Olu has presented a budget proposal of N1.4 trillion for the 2022 fiscal year to the State House of Assembly for consideration and approval.
The proposed 2022 budget is N138 billion higher than the 2021 budget, which stood at N1.25 billion.
The proposed 2022 budget size of N1.388,375,930,585, has N564.9 billion for recurrent expenditure and capital expenditure of N823.5 billion.
Speaking at the budget presentation on Wednesday, 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.
“As well as demonstrating the willingness to overcome all obstacles and deliver all electoral promises to Lagosians, the Y2021 budget will reflect the continued execution of THEMES,” the governor stated.
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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