Sanwo-Olu signs Lagos ₦3.366 trillion 2025 budget into law

VIDEO: Sanwo-Olu signs Lagos N3.366tr 2025 appropriation bill

Lagos State Governor, Babajide Sanwo-Olu, has officially signed the state’s N3.366 trillion 2025 Appropriation Bill into law, marking a significant milestone for the state’s fiscal plans for the year.

Dubbed the… pic.twitter.com/aZlbsFh4B5

— The Nation Nigeria (@TheNationNews) January 9, 2025

Lagos State Governor, Babajide Sanwo-Olu, has officially signed the state’s N3.366 trillion 2025 Appropriation Bill into law, marking a significant milestone for the state’s fiscal plans for the year.

Dubbed the “Budget of Sustainability,” the new budget represents a 32.5% increase from the previous year’s N2.3 trillion allocation, reflecting a stronger commitment to development and economic growth.

The 2025 budget is split into two main components: N1.239 trillion for recurrent expenditure, accounting for 41% of the total budget, and a substantial N1.766 trillion allocated for capital expenditure, which constitutes 59% of the budget.

This allocation emphasises the state’s focus on infrastructure, development projects, and long-term sustainability.

The signing of the budget was disclosed in a video shared via the X handle of the Senior Special Assistant on New Media to the Lagos State Governor, Jubril Gawat, on Thursday, January 9.

The caption reads: “Governor of Lagos State, Mr #jidesanwoolu today signed the Year 2025 Appropriation Bill into Law, today at the Conference Room, Lagos House Ikeja.

Budget christened: “BUDGET OF SUSTAINABILITY” “TOTAL BUDGET SIZE: 3,366,815trn, CAPITAL EXPENDITURE: 2,071,185T (68%), RECURRENT EXPERIENCE: 1,295,630T (38%).”