Governor Babajide Sanwo-Olu of Lagos State has presented a budget size of N1.692 trillion to the State House of Assembly.
The Year 2023 Budget of Continuity comprises of a total revenue of N1.342trillion and deficit financing of N350bn, which comprise of N1.108trn total Internally Generated Revenue and N234,235bn total Federal Transfers.Sanwo-Olu also proposed a recurrent expenditure of N760bn , comprising of N403bn total overhead; N247bn total personnel cost and N109bn recurrent debt service. He proposed a total capital expenditure of N933bn comprising of N670bn expenditure and N263bn repayment.
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