Lagos State Governor, Babajide Sanwo-Olu, will today sign the state’s historic N3.3 trillion 2025 appropriation bill into law at Lagos House, Alausa, Ikeja.
The landmark budget, the largest by any subnational government in Nigeria, will pave the way for its full implementation in the coming year.
The budget allocates N1.29 trillion to recurrent expenditure and N2.07 trillion to capital projects.
It represents a milestone in the governor’s efforts to position Lagos as a leading hub for economic growth and urban modernization.
The Lagos State House of Assembly approved the 2025 budget on Monday after the presentation of a report by Sa’ad Olumoh, chairman of the joint committee on appropriation and finance.
Lawmakers, during a session presided over by Speaker Mudashiru Obasa, endorsed the N3.36 trillion budget through a voice vote.
He said the budget builds on Sanwo-Olu’s commitment to driving economic transformation through targeted investments in critical sectors like transportation, healthcare, education and housing.
The governor’s signing of the budget today will signal the commencement of its implementation with expectations for extensive infrastructure projects to enhance the standard of living for Lagos residents.
Therefore, the N3.3 trillion appropriation bill is poised to solidify Lagos State’s position as an economic powerhouse and set a benchmark for other subnational governments in Nigeria.
