Sanwo-Olu presents N1.388trn 2022 budget to Lagos Assembly

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…

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