Lagos State Governor, Babatunde Sanwo-Olu has signed into law the 2021 budget of ₦1.55trn, noting that his administration will continue its work of rebuilding the state.
Sanwo-Olu, who signed the budget on Thursday, December 31, 2020, reiterated the government’s commitment in advancing economic growth, and expanding opportunities for residents of the state to flourish despite the economic challenges caused by the coronavirus.
“With the passage of the bill, we will continue our work of rebuilding Lagos, advancing economic growth, and expanding opportunities for Lagosians to flourish despite the economic challenges caused by the coronavirus,” he said.
“As we already know, 2020 will go down in history as a peculiar year largely defined by the COVID-19 pandemic and the #ENDSARS protests, which were recklessly hijacked by those who destroyed some of our public assets and private businesses.
“We are, however, fortunate to be going into the New Year, with an already passed budget, which will help to expedite our recovery process.
“A significant portion of the budget has been committed to human capital development, youth engagement, social intervention initiatives, and the completion of ongoing projects that are critical to achieving the objectives of our T.H.E.M.E.S agenda.
“The Honourable Commissioner for Economic Planning and Budget will present to the general public the full details and breakdown of the budget in due course.”
The budget christened the Budget of Rekindled Hope consists of N702,935,416,976 capital expenditure and N460,586,793,741 recurrent expenditure.
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