Lagos State Governor Babajide Sanwo-Olu has signed the N2.2 trillion 2024 Appropriation Bill passed by the state’s House of Assembly into law and assured Lagosians of effective implementation.
The budget estimate for the 2024 fiscal year tagged ‘Budget of Renewal’ was presented to the Lagos State House of Assembly for consideration on December 13, 2023.
Sanwo-Olu at the signing ceremony revealed that the state House of Assembly passed the budget last week after due consideration and subsequently transmitted it to him for his assent.
“Just a moment ago, I assented to the Appropriation Bill as approved by the legislature. For the purpose of clarity, the approved budget size is N2.267 trillion comprising N1.315 trillion for capital expenditure and N952.430 billion for recurrent expenditure (58:42).
“The approved budget size is N21.743billion higher than what was presented to the House of Assembly due to additional provisions to enforce completion of ongoing projects. Further details of the appropriation law will be provided by the Hon. Commissioner for Economic Planning and Budget”, he said.
The governor said the impact of appropriation law will be determined by the effectiveness of its implementation, assuring that his administration is determined to ensure that the goals and objectives of the budget are maximally realised for the benefit of all Lagosians and in line with our THEMES+ development agenda.
He pledged that his administration will work assiduously to ensure the completion of ongoing projects and ensure the effective take off of new ones.