Lagos State governor, Babajide Sanwoolu, yesterday present year 2025 Lagos budget to the state House of Assembly.
Lagos State, the biggest contributor to Value Added Tax in Nigeria also the biggest economy state in the country tagged year 2025 budget as “Budget of Sustainability”
The arrival of the state governor, Babajide Sanwoolu to the state assembly complex is a significlant remark for the presentation of the Year 2025 Budget Estimates proposal.
In his speech at the presentation, governor Sanwoolu said “Today, I presented the Lagos State’s 2025 budget to the House of Assembly, outlining our priorities for the coming year.
The proposed budget totals N3.005 trillion, with a significant capital investment of N908.7 billion allocated to key areas like Tourism, Agriculture, Transportation, and Infrastructure.
This “Budget of Sustainability” marks a 32.5% increase from the current year’s budget of N2.3 trillion, reflecting our commitment to meet the growing demands for sustainable development.
The budget is structured around five key pillars: infrastructure sustainability, economic diversification, social inclusion, human capital development, and environmental sustainability.
I emphasized that maintaining investment in infrastructure is vital for the state’s growth momentum. We have completed 30 road projects, including bridges, which will be commissioned soon.
Additionally, we have a Memorandum of Understanding with the Federal Government to initiate the development of the 68-km Green Line, connecting Marina to the Lekki Free Trade Zone.
This budget is more than just a fiscal plan; it’s a blueprint for resilience and shared prosperity for all Lagosianns,” Sanwoolu concluded.
In his acceptance speech, the Speaker of Lagos State House of Assembly, Mudashiru Obasa on behalf of the state assembly members said:
“Today, we witnessed another significant milestone in the history of Lagos State as Governor Babajide Olusola Sanwo-Olu presented the Y2025 budget proposal before the Lagos State House of Assembly.
Themed the “Budget of Sustainability”, this proposal builds on the successes of last year’s budget and reaffirms our collective commitment to sustainable development, economic growth, and infrastructural transformation for a Greater Lagos.
As we face the reality of economic challenges, we remain undeterred. The strategic vision of Mr Governor aligns with President Bola Ahmed Tinubu’s renewed hope agenda, which focuses on national economic recovery. Together, we are confident that these plans will attract investments, drive growth, and improve the standard of living for all Lagosians. Let us keep the hope alive, knowing there is light at the end of the tunnel!
The Lagos State House of Assembly has always stood firmly behind this administration, supporting every initiative aimed at improving the lives of our people. As representatives of Lagosians, we will uphold our duty to critically examine the budget while prioritising the socio-economic and political interests of the state. Rest assured, we will expedite its passage without compromising thoroughness.
I must commend Mr Governor for fulfilling his constitutional duty by presenting the budget. I also appreciate my colleagues for their unwavering dedication to the welfare of Lagosians. Your unity, courage, and perseverance continue to inspire us as we work towards the collective aspirations of our people.
This is another step towards building the Lagos of our dreams—a Lagos that works for everyone. Let us all remain steadfast and focused as we move forward together.
