Lagos State Governor, Babajide Sanwo-Olu on Monday signed the 2024 budget of N2,267,976,120,869 into law, promising to effectively utilise the budget.
Sanwo-Olu signed the budget into law at the State House, Ikeja on Monday evening. The governor had presented the budget to the State House of Assembly on 13 December, 2023.
The budget comprises N1,315,545,553,871 Capital expenditure and N952,430,566,998 Recurrent expenditure in ratio 58:42.
The approved budget size is N21.743 billion provisions to enforce completion of ongoing projects.
According to the governor, the impact of the appropriation law would be determined by the effectiveness of its implementation.
“We are determined to ensure that the goals and objectives of this budget are maximally realised for the benefit of all Lagosians and in line with our THEMES+ development agenda. We will work assiduously to ensure the completion of ongoing projects and ensure the effective take off of new ones.
“Let me reiterate the importance of everyone playing their roles in the successful implementation of this budget especially the commitment of citizens to discharging their civic obligations as and when due. As a government, we will continue to be guided by the highest standards of transparency and accountability in the management of resources put in our care,” he said.