THE Lagos State Governor, Babajide Sanwo-Olu, has proposed to spend N759.96 billion, representing 45 per cent of the state’s 2023 Appropriation bill, on personnel cost, overhead and debt services.
Sanwo-Olu disclosed this on Thursday when he presented the N1.693 trillion 2023 Appropriation bill to the House of Assembly.
According to a statement signed by the governor’s Chief Press Secretary, Gboyega Akosile, the fiscal proposal, tagged, ‘Budget of Continuity’, has a capital expenditure of N932.7 billion, representing 55 per cent of the 2023 budget. The recurrent expenditure, which includes personnel cost, overhead and debt services, is N759.96 billion, representing 45 per cent.
The governor proposed a N153.5 billion allocation to education next year, representing 9.07 per cent of the total budget estimates, “in order to consolidate the gains of the past years in the sector.”
Sanwo-Olu attributed the vote for education to the “achievement of a record high performance…
