Governor Babajide Sanwo-Olu has approved Lagos State’s budget of N3.366 trillion for the year 2025. The announcement was made by Gboyega Akosile, his Special Adviser on Media and Publicity, on Thursday, January 9, 2025.

The Lagos State House of Assembly had passed the budget on January 6, 2025, after a detailed review by lawmakers. Speaker Mudashiru Obasa presided over the session, where the budget was approved through voice votes following a report by Hon. Sa’ad Olumoh, chairman of the joint committee on appropriation and finance.

The 2025 budget allocates:

• N1.296 trillion for recurrent expenses, which include salaries and daily government operations.
• N2.071 trillion for capital projects aimed at infrastructure development and long-term improvements in the state.

The budget, set to run until December 31, 2025, reflects a strategic approach to balancing operational needs with infrastructure investments.

Governor Sanwo-Olu initially presented a proposal of N3.005 trillion in November 2024. The final budget includes a deficit of N408.9 billion, which will be financed through internal and external loans as well as bonds.

Speaker Obasa commended lawmakers for their commitment to reviewing and passing the budget. He instructed the Clerk of the House, Barr. Olalekan Onafeko, to transmit the approved bill to the governor for his assent.

This budget underscores the state government’s focus on sustaining progress and delivering impactful projects to improve the lives of Lagos residents.