Sanwo-Olu presents Lagos' N1.168 trillion 2020 budget

, unveiling his administration’s plan to accelerate the growth of the state’s economy by proposing investments in critical areas of priorities – physical infrastructure, environment, human capital and security.

About N167.81 billion of the recurrent expenditure will go for personnel costs and other staff-related expenses, representing 22.02 per cent of the total revenue. This, the governor noted, is within the acceptable wage policy, which benchmarks 25 per cent staff overheads in the budget. “This budget seeks to aggressively invest in and develop our education, health and other physical infrastructure sectors. As at September 2019, our capital expenditure on works and infrastructure was just N31 billion, which is less compared with N78 billion proposed in the current year. It is our intention to spend N115 billion on physical infrastructure in 2020.

“The 2020 Budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years,” he said. He said his administration completed critical projects that directly impacted residents, including two Maternal and Child Care Centers in Eti-Osa and Alimosho areas, and 492-flat Lateef Jakande Housing Estate in Igando.

Chief Judge of Lagos State, Hon. Justice Kazeem Alogba; Deputy Governor, Dr. Obafemi Hamzat; Speaker, State House of Assembly, Rt. Hon. Mudashiru Obasa; Governor Babajide Sanwo-Olu; Oba of Lagos, Oba Rilwan Akiolu I and Elegushi of Ikateland, Oba Saheed Elegushi, Kusenla III during presentation of the Y2020 Budget Estimate at the Hallowed Chamber of the Assembly Complex, Alausa, Ikeja, on Friday, November 8, 2019.

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