Sanwo-Olu Signs N3.36 Trillion Lagos 2025 Budget into Law

Lagos State Governor Babajide Sanwo-Olu has officially signed the 2025 Appropriation Bill, amounting to ₦3.36 trillion, into law. The budget, themed “Budget of Sustainability,” focuses on continuity, resilience, and prosperity for Lagos residents. Originally proposed at ₦3.005 trillion in November 2024, the Lagos State House of Assembly increased the budget to ₦3.37 trillion before its approval. It prioritizes five pillars: Infrastructure Sustainability, Economic Diversification, and Institutional Reforms. The budget includes a recurrent expenditure of ₦1.239 trillion (41%) and a capital expenditure of ₦1.766 trillion (59%). It also features a ₦408.9 billion deficit, to be financed through internal and external loans and bonds. Sectoral allocations include ₦908.7 billion for Economic Affairs, ₦233.2 billion for the Environment, ₦204 billion for Health, and ₦208.4 billion for Education. Sanwo-Olu described the budget as a blueprint for progress and reiterated his administration’s commitment to fiscal sustainability and improved public service delivery.