Lagos GovernorPhoto Credit: @jidesanwoolu

Lagos Assembly approves N2.267tn 2024 budget

The Lagos State House of Assembly has approved the 2024 budget of N2.267 trillion, as presented by Governor Babajide Sanwo-Olu last year.

The budget, with a composition of 58% for capital expenditure and 42% for recurrent expenditure, received unanimous support from the lawmakers through a voice vote.

Governor Sanwo-Olu had presented the budget proposal on December 13, 2023, outlining an expectation of N1.251 trillion from internally generated revenue and N596.629 billion from federal government allocations.

ALSO READ: Zamfara Governor Enacts Budget for 2024

Before the approval, the joint-committee on Budget and Finance, led by Sa’ad Olumoh, recommended placing the Public Works Corporation, Water Corporation, and state-owned tertiary institutions on first-line charge to enhance their performance.

During the presentation, Speaker Mudashiru Obasa stressed the importance of a functional budget, stating that it should go beyond traditional palliatives like distributing food items or money.

He urged a focused approach with effective policy implementations, suggesting measures such as providing subsidized drugs at public hospitals and reviewing treatment costs downward.

In plenary, Speaker Obasa proposed a bill authorizing the appropriation of N952,430,566,998 for Recurrent Expenditure and N1,315,545,553,871 for Capital Expenditure, totaling the approved budget of N2,267,976,120,869 for the year ending December 31, 2024.

He praised the lawmakers for their dedication and cooperation in swiftly passing the Appropriation Bill, instructing the Clerk of the House, Olalekan Onafeko, to send a copy of the approved budget to Governor Sanwo-Olu for assent.


Peter Ritdung Wakkias is a Nigerian blogger and programmer, known for being the CEO of and He holds a Higher National Diploma in Computer Science from Isa Mustapha Agwai 1 Polytechnic Lafia. Based in Lafia, Nasarawa State.

Leave a Reply

Your email address will not be published. Required fields are marked *