The Governor Lagos State, Babajide Sanwo-Olu, on Thursday signed the 2025 budget appropriation bill into law.
Gov. Sanwo-Olu had initially proposed a budget of N3.005 trillion on November 21, 2024. However, the Lagos State House of Assembly on Monday, approved N3, 366, 815, 224,144 as the state’s budget for 2025.
The approval followed the presentation of a report on the budget by the Chairman of the joint committee on appropriation and finance, Sa’ad Olumoh, and the subsequent voice vote by lawmakers during a sitting presided over by the Speaker, Mudashiru Obasa.
The approved budget is divided into N1, 295, 630, 197, 452 for recurrent expenditure, while N2, 071, 185, 026, 692, is allocated for capital expenditure for the year ending December 31, 2025.
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“The passage of this budget reflects the commitment of the Lagos State House of Assembly to ensuring continued growth and development in the state,” said Sa’ad Olumoh, Chairman of the Joint Committee on Appropriation and Finance.
Following the passage, Obasa directed the Clerk of the House, Olalekan Onafeko, to transmit a clean copy of the passed bill to Gov. Sanwo-Olu for assent.
Special Adviser on Media and Publicity to the governor, Gboyega Akosile, in a post on his X account on Thursday, said Gov. Sanwo-Olu has signed the 2025 budget appropriation bill into law.
Akosile said the budget size is N3.366 trillion.
“Breaking: Lagos State Governor @jidesanwoolu today signs the 2025 Appropriation Bill to law. The budget size is N3.366 trillion meant for the continuation of the great works of the Sanwo-Olu/Hamzat administration,” he wrote.
