Governor Sanwo-Olu presents Y2022 Appropriation Bill
Governor of Lagos State, Babajide Sanwo-Olu, has presented Year 2022 Appropriation Bill titled Budget of Consolidation. Mr. Sanwo-Olu presented the budget on Wednesday before members of the State House of Assembly for consideration and approval.
The total budgetary proposal is ₦1,388,285,459,990.51, comprising total revenue of ₦1,135,159,092,822.30 and deficit financing of ₦253,126,367,168.21.
The budget size is further analysed as recurrent expenditure of ₦564,934,331,886.41 (41%) and capital expenditure of ₦823,351,128,104.10 (59%).
The 2022 budget estimates is a bit higher than that of the outgoing year, 2021 of N1.163 trillion, and will focus on education, infrastructure, health and human capital development.
Speaking during the budget presentation, Mr. Sanwo-Olu at the Assembly Complex, said it was intended to reflect the determination to rise above the challenges that had affected the development indices in the last 10 months, occasioned by COVID-19 pandemic crisis.
In his words: “As well as demonstrate the willingness to overcome all obstacles and deliver all electoral promises to Lagosians, the Y2021 budget will reflect the continued execution of the THEMES.”
He noted that the presentation of the 2022 budget was to allow for consolidation of the gains recorded by the government over the years.
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