Lagos Assembly approves N3.4 Trillion budget for 2025
The approved budget is made of N1,295,630,197,452 as recurrent expenditure while N2,071,185,026,692 is earmarked as capital expenditure for the year ending December 31, 2025.
This statement was obtained by The Record from the Chief Press Secretary to the Speaker of the Lagos State House of Assembly, Eromosele Ebhomele.
The Lagos State House of Assembly on Monday approved a total sum of N3,366,815,224,144 as the total budget of the state for 2025.
The approval followed the presentation of a report on the budget by the chairman of the joint committee on appropriation and finance, Hon. Sa'ad Olumoh, and the subsequent voice votes by lawmakers at a sitting presided over by the Speaker, Rt. Hon. Mudashiru Obasa.
The approved budget is made of N1,295,630,197,452 as recurrent expenditure while N2,071,185,026,692 is earmarked as capital expenditure for the year ending December 31, 2025.
Dr. Obasa, thereafter, directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the passed bill to Governor Babajide Sanwo-Olu for assent.
The Speaker commended his colleagues for their painstaking efforts leading to the passage of the budget.
Recall that Gove…
