Lagos State Governor, Babajide Sanwo-Olu, has signed the state’s 2025 budget of N3.366 trillion into law.
This was disclosed on Thursday by the Special Adviser to the Governor on Media and Publicity, Gboyega Akosile.
“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,” Akosile said on X.
On Monday, the Lagos State House of Assembly approved a total budget of N3,366,815,224,144 for the state in 2025.
The approval was granted after the presentation of a report by the Chairman of the Joint Committee on Appropriation and Finance, Sa’ad Olumoh.
Lawmakers voted in favour of the budget during a plenary session presided over by the Speaker, Mudashiru Obasa.
The approved budget allocates N1,295,630,197,452 for recurrent expenditure and N2,071,185,026,692 for capital expenditure, covering the fiscal year ending December 31, 2025.
Sanwo-Olu had initially presented a budget proposal of N3.005 trillion to the House on November 21. During the presentation, the governor highlighted a deficit financing of N408.902 billion, which he said would be sourced from internal and external loans, as well as bonds.
“This 2025 budget is not just a fiscal document but a blueprint for continuity, resilience, and shared prosperity for every Lagosian. As a key economic hub, Lagos stands at a crossroads: a nexus of challenges that test our resolve and opportunities that call for bold action. In crafting this budget, we have listened to our citizens’ voices, studied the global and local economic realities, and reaffirmed our commitment to ensuring that Lagos continues to thrive sustainably for generations to come.
“Next year, we are making significant progress in revitalising cultural, religious, and recreational infrastructure across the state.
“These initiatives are aimed not only towards preserving the rich cultural heritage of Lagos but also to unlock the tourism economy by creating spaces for recreation and artistic expression,” Sanwo-Olu said at the time.
