Governor Babajide Sanwo-Olu will present the 2024 budget on Wednesday, December 13, 2023, to the Lagos Assembly.
A statement from the Commissioner for Information and Strategy, Gbenga Omotoso on Monday confirmed that the budget document covers planned capital projects and expenses but doesn’t specify budget priorities.
“The Appropriation Bill, which will highlight the details of planned capital projects, recurrent expenditure and anticipated revenue for the fiscal year, will be laid for consideration before the House of Assembly, ” the statement reads.
Commenting on the success of the 2023 budget implementation, Gbenga noted that an 80% achievement was recorded for Capital Expenditure in Q1, Q2, and Q3
It would be recalled that Capital Expenditure in the 2023 budget was allocated at N1.019 trillion, representing 58% of the budget.
Key projects funded in the budget included the second phase of the Blue Rail Line, the Ojo General Hospital and Red Rail Line construction.
