Ahead of pivotal elections, Sanwo-Olu signs 2023 Lagos budget into law
The budget, tagged the ‘Budget of Continuity’, is worth N1.768 trillion.
At a brief ceremony held at the Governor’s Office in Alausa, Governor Babajide Sanwo-Olu has signed into law the 2023 budget for Lagos State.
The budget, tagged the ‘Budget of Continuity’, is worth N1.768 trillion.
It has a capital expenditure of N1.019 trillion and a recurrent expenditure of N748 billion.
The recurrent expenditure includes personnel cost, overhead and debt servicing.
Mr. Sanwo-Olu’s assent to the appropriation bill comes weeks to a crucial governorship election in the state.
His major challengers include Olajide ‘Jandor’ Adediran of the PDP, Gbadebo Rhodes-Vivour of the Labour Party and Olufunso Doherty of the African Democratic Congress.
Capital projects
Some of the capital projects earmarked for the year include the final construction phase of the 37-kilometre Lagos red rail line from Agbado to Ebute Metta and the Ojo General Hospi…
