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Lagos Governor Babajide Sanwo-Olu has presented a budget estimate of N1.388 trillion for the 2022 fiscal year.
The ‘Budget of Consolidation’ was presented at the House of Assembly Chambers.
Recurrent expenditure was put at N564.93 billion representing 40.4 per cent while capital expenditure was put at N823.35 billion representing 59.6 per cent of the total budget size.
Present at the presentation were Deputy Governor Obafemi Hamzat; members of the State Executive Council (SEC); lawmakers: traditional rulers; White Cap Chiefs, Commissioner of Police Hakeem Odumosu, and members of the Governor’s Advisory Council (GAC) as well as heads of security agencies, local government chairmen and other concerned stakeholders.