Sanwo-Olu Signs 2025 Budget of Sustainability

Lagos State Governor, Babajide Sanwo-Olu, on Thursday 9th of January , 2025 signed the 2025 Appropriation Bill into law. The N3.366 trillion “Budget of Sustainability” aims to build on past achievements and ensure a brighter future for Lagosians.

The signing which took place at the Lagos House in Ikeja, had key government officials like the Deputy Governor, Dr. Obafemi Hamzat, and members of the State Executive Council, in attendance.

Governor Sanwo-Olu explained that the budget focuses on five key pillars: Infrastructure Sustainability, Economic Diversification, Social Inclusion, Environmental Sustainability, and Governance Reforms.

“This budget provides another opportunity to advance our vision of a Greater Lagos,” Sanwo-Olu said. He urged collaboration between the Executive and Legislature to maximize its impact for all residents.

The Governor commended the Lagos Assembly, ably led by Speaker Mudashiru Obasa, for approving the budget. He also acknowledged the dedication of those involved in its preparation and promised efficient implementation.

Hon. Sa’ad Olumoh, Chairman of the House Committee on Appropriation, stated that the budget focuses on infrastructure and human capital development. He also mentioned the state’s achievement of crossing N1 trillion in internally generated revenue.

Economic Planning Commissioner Ope George noted that 62% of the budget is allocated to capital expenditure, reflecting the administration’s commitment to long-term investments in infrastructure and services.

The 2025 budget, which includes N1.3 trillion for recurrent expenses and N2.07 trillion for capital projects, solidifies Lagos as Nigeria’s leading sub-national economy.