Sanwo-Olu presents Lagos State 2023 Budget | See Details

Lagos State governor, Babajide Sanwo-Olu presented the 2023 budget of N1.693 trillion to the Lagos State House of Assembly amid pomp and pageantry on Thursday.

According to him, the proposed spending for the 2023 fiscal year has 55 per cent earmarked for capital expenditure and 45 per cent for recurrent spending.

The Governor noted that the 2023 appropriation bill is a budget of continuity since his government wants to build on the successes of the previous three years. He made this statement when addressing the parliamentarians.

In addition to thanking the legislature for helping his administration achieve certain victories over the previous three years, he urged that body of the government to complete its work thoroughly and guarantee that the bill is passed before the year is over.

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In his remarks, the Speaker of the parliament, Mr Mudashiru Obasa, commended the Governor for the bill, stressing that it should address three areas for the benefit of the residents of the state, including more human face, poverty reduction and improvement in the welfare of the residents.

Noting that this was the last budget to be presented by the current administration before the 2023 election, Mr Obasa promised that the House would carry out its constitutional duty of scrutinising the proposal for the benefit of the residents of the state.

“There is, therefore, no doubt that in the remaining months leading to the end of this administration, so much more needs to be done; so much is still needed from us as the good people of Lagos yearn for more dividends of democracy, especially at this critical time,” he said, promising that the parliament will continue to support the executive arm of Government to achieve a better and safer society.