Governor Babajide Sanwo-Olu of Lagos State on Monday signed the 2024 Appropriation Bill into law, with an addition of N21.74 billion on the initial N2.246 trillion ‘Budget of Renewal’ presented. During the signing ceremony at the Lagos House Ikeja, the governor stated that the budget size now stands at N2.267 trillion as against the initial N2.246 trillion.
”For clarity, the approved budget size is N2,267,976,120,869; comprising N1,315,545,553,871 for capital expenditure and N952,430,566,998 for recurrent expenditure, a ratio of 58:42.
”The approved budget size is N21.74 billion higher than what was presented to the House of Assembly due to additional provisions to enforce completion of ongoing projects,” he said.
He said that how well the budget was implemented would decide how much of an influence it had. He also continued by saying that the government was committed to making sure the budget’s aims and objectives were fully achieved, for the good of all citizens and in keeping with the THEMES+ development plan.
According to Sanwo-Olu, the administration would put out great effort to see that ongoing projects are completed and that new ones are launched successfully. So he urged every resident to actively fulfill their civic duties on time to contribute to the budget’s successful implementation.
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