Lagos State governor, Babajide Sanwo-Olu, has signed into law the 2024 Appropriation Bill as passed by the State House of Assembly.
The governor had on December 13, presented a N2.2 trillion ‘Budget of Renewal’ to the House of Assembly.
Governor of Lagos State, Mr. Babajide Sanwo-Olu (second left) signing the Y2024 Appropriation bill into law at the Conference room of Lagos House, Alausa, Ikeja, on Monday, 15 January 2024. With him are Deputy Governor, Dr. Obafemi Hamzat (left); Deputy Speaker, the State House of Assembly, Hon. Mojisola Meranda (second right); Chairman, House Committee on Appropriation, Hon. Saad Lukman Olumoh (right); Attorney General/Commissioner for Justice, Mr. Lawal Pedro, SAN (right behind) and Commissioner for Economic Planning and Budget, Mr. Ope George (left behind).
The House, however, increased the total budget size to N2.267 trillion, with N1.315 trillion allocated to capital expenditure and N952 billion allocated for recurrent expenditure. This represents a ratio of 58:42.
