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Sanwo-Olu presents N3trn 2025 budget

Lagos State Governor Babajide Sanwo-Olu, on Thursday, presented a N3 trillion 2025 budget proposal to the House of Assembly for consideration and approval.

The budget proposal, christened ‘Budget of Sustainability,’ has a recurrent expenditure of N1.2 trillion and N1.7 trillion capital expenditure component.

Sanwo-Olu said the recurrent expenditure comprises total overhead, personnel cost, and recurrent debt service as follows: Overhead, N432.580 billion; subventions, N139.728 billion; dedicated funds, N150.278 billion; total personnel cost, N392.000 billion, while recurrent debt charges are put at N125.232 billion.

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The budget projects a total revenue of N2.597 trillion, while deficit financing is N408 billion. 

The total revenue comprises internally generated revenue (IGR) of N1.9 trillion, and total federal transfers of N626.1 billion.

The sectoral breakdown includes Economic Affairs, N908.699 billion; Environment, N233.176 billion; Health, N204.005 billion; Education, N208.376 billion; Security, Safety and Public Order, N124.073 billion; and Social Protection, N47.077 billion.

Sanwo-Olu told the lawmakers that the budget “is not just a statement of intentions but a practical, actionable framework designed to impact lives.”

 

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