The budget titled “Budget of Awakening” and presented on the floor of the Lagos State House of Assembly’ is worth N1,168,561,534,191.
According to the governor, the budget, which he said is in line with his administration’s THEME agenda will address key investment in education, healthcare, infrastructure, environment, human capital, security and other areas.
Sanwo-Olu also said that the 2020 budget has provided for capital and recurrent expenditure in the ratio of 62:38 amounting to N723.75bn and N444.81bn respectively.
Speaking after the budget presentation, Lagos Speaker, Mudasiru Obasa said, the House would scrutinise the budget.
He said, “We have listened with rapt attention to how the wealth of our state will be utilized for our common good in Y2020 with the presentation of the budget size: N1,168,561,534,191. The onus is now on the members of this Assembly to meticulously perform our constitutional duty.”
Sanwo-Olu said that his administration has increased the capital allocation to education and technology by 60 per cent and also increased healthcare spending to N33bn.