The governor, at a ceremony held in the State House, Alausa, assented to the ‘Budget of Renew­al’ days after the House of Assem­bly passed the proposed expendi­ture bill and transmitted it to the executive arm for approval.

The state government is pri­oritising spending on infrastruc­ture, environment, education and technology, just as it significantly raised allocation to security and public safety.

Of the total budget, N1.315 tril­lion, representing 58 percent, is allocated for capital expenditure, while the recurrent spending gulped N952.4 billion, which rep­resents 42 percent of the budget.

After signing the Appropria­tion Bill into law, Sanwo-Olu said assured that the implementation of the budget would bring about new growth and improve quality of life for the state’s residents.

The governor disclosed that the budget was raised by N21.74 billion, which the Assembly ap­proved before the final ratifica­tion. The additional allocation, he said, is to ensure completion of key infrastructure and inject interventions into critical areas of priority as identified by the legislature.

He said:

“The success of this Appropriation Law will be deter­mined by how effective its imple­mentation will be in relation to the wellbeing of our citizens. This administration is firmly commit­ted to achieving the objectives and deliverables that have been set out in the budget. We believe this bud­get will not only help to advance economic growth and sustainabil­ity, it will also transform the lives of the residents and businesses.

“All the objectives laid out in the Appropriation Law align with our THEMES+ agenda.

We, therefore, pledge to diligent­ly work towards the completion of a lot of our ongoing projects and successfully bring forth the Greater Lagos we have talked about. We underscore the ne­cessity of the collective respon­sibility to ensure the successful execution of this budget. The citizens must fulfil their civic obligation, as the effort to build the State is one that requires partnership.”

Sanwo-Olu pledged that the state government would uphold highest level of transparency and accountability in the implemen­tation of the budget, while prom­ising greatest benefits would be for greatest number of residents.

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