Daud Olatunji
An investigation by PLATFORM TIMES has revealed that Governor Babajide Sanwo-Olu received a staggering ₦1.43 trillion in federal allocations on behalf of Lagos State between May 2019 and March 2025.
The data, obtained from BudgIT—a civic technology organisation advocating transparency and accountability in public finance—covers the six-year period of Sanwo-Olu’s administration, beginning from his assumption of office in May 2019 to the most recent disbursement in March 2025.
The fiscal figures show consistent annual increases in allocations, with a dramatic surge recorded in 2024. According to the breakdown, Lagos received ₦79.62 billion in the last eight months of 2019, ₦131.39 billion in 2020, ₦145.78 billion in 2021, and ₦194.70 billion in 2022. In 2023, the state’s allocation rose to ₦208.87 billion.
However, the biggest leap came in 2024 when the state received ₦474.68 billion—more than six times what was collected in 2019 and more than double the amount received in 2022. In the first quarter of 2025 alone, Lagos had already been disbursed ₦123.72 billion.
In total, the net statutory allocation to Lagos under Sanwo-Olu’s administration over the six-year period stood at ₦1,434,762,911,424.70, the report confirmed.
Further analysis revealed that February 2025 marked the highest single-month disbursement, with ₦45.15 billion sent to the state. In contrast, March 2021 recorded the lowest monthly allocation at ₦8.69 billion.
BudgIT attributed the variation in figures to several national economic variables including fluctuating oil revenues, modifications in the Federation Account Allocation Committee (FAAC) sharing formula, inflation, exchange rate adjustments, and subsidy reforms.
The substantial increase in federal revenue inflow has reignited debates on fiscal responsibility, transparency, and the direct impact of such allocations on the quality of governance and public services in Lagos.
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