Sanwo-Olu presents N1.7trn 2023 budget to Lagos Assembly

Lagos Governor Babajide Sanwo-Olu has presented the 2023 budget proposal of N1.692.671trillion to the House of Assembly.

The ‘Budget of Continuity’ tabled on Thursday has a capital-to-recurrent ratio of 55:45 percent.

Speaker Mudashiru Obasa said the Appropriation Bill should target the reduction of poverty and improve the welfare of residents.

Obasa noted that though the state government had achieved a lot in its efforts to upgrade Lagos’s status, the people look forward to additional dividends.

The lawmaker urged the Federal Government to approve the allocation of one percent special status to the State considering its population.

Obasa promised that the House would carry out its constitutional duty of scrutinizing the proposal for the benefit of all.

“In the remaining months leading to the end of this administration, so much more needs to be done; so much is needed from us as the good people of Lagos yearn for more dividends of democracy”, he said.

In December 2021, the Assembly passed N1.758 trillion budget for 2022. The final estimate was increased from the N1.388 trillion initially presented.