•By Hon. Segun Olulade Eleniyan
The signing of the N2.267 trillion 2024 Appropriation Bill of Lagos State into law by Governor Babajide Sanwo-Olu is a monumental achievement that sets the stage for a new expenditure cycle in the state.
The budget also known as the Budget of Renewal, is a testament to the commitment of the government to prioritize the welfare and development of the people of Lagos.
I would like to commend the Lagos State House of Assembly led by Rt. Hon. Mudashiru Ajayi Obasa for their dedication to the people of Lagos and their harmonious relationship with the executive arm of government. Their diligence and commitment to excellence have set a common standard for legislative bodies across the country.
The Budget of Renewal places a strong emphasis on infrastructure, environment, education, and technology, with increased allocation for security and public safety. This demonstrates the government’s understanding of the key areas that require attention and investment in order to improve the overall quality of life for the citizens of Lagos.
It is also worth noting that 58% of the total budget goes to capital expenditure, while 42% is allocated for recurrent spending. The additional allocation of N21.74 billion, approved by the Assembly, aims to complete key infrastructure and address priority areas. This strategic allocation of resources reflects a prudent and forward-thinking approach to financial management.
The successful implementation of this budget is crucial for the wellbeing of the citizens of Lagos and aligns with the government’s THEMES+ agenda, which aims to transform lives and businesses. The budget sets a clear roadmap for the development of the state and provides the necessary resources to achieve the government’s vision for a better and brighter future for Lagos.
The signing of the 2024 Appropriation Bill into law marks a significant milestone for the government of Lagos State. It is a testament to their commitment to the people and their determination to drive positive change and development in the state.
I commend Governor Babajide Sanwo-Olu and the entire leadership of Lagos State House of Assembly for their dedication and foresight in the formulation and implementation of this budget. This is indeed a step in the right direction towards a renewed and prosperous Lagos.
