Lagos Governor Babajide Sanwo-Olu has presented a budget estimate of N1.388 trillion for the 2022 fiscal year before the State House of Assembly.
The total budgetary proposal is ₦1,388,285,459,990.51, comprising total revenue of ₦1,135,159,092,822.30 and deficit financing of ₦253,126,367,168.21.
The recurrent expenditure stands at ₦564,934,331,886.41 (41%) while capital expenditure is ₦823,351,128,104.10 (59%).
The budget will focus on education, infrastructure, health and human capital development.
More to come later…