Governor Babajide Sanwo-Olu‘s original request was increased by ₦360.88 billion when the Lagos State House of Assembly approved a ₦3.37 trillion budget for the 2025 fiscal year.
With the fiscal year ending on December 31, 2025, the budget allots roughly ₦1.3 trillion for ongoing expenses and ₦2.07 trillion for capital projects.
On November 21, Governor Sanwo-Olu unveiled a projected budget of ₦3.005 trillion, pointing out a ₦408.9 billion deficit that internal and external bonds and loans would cover.
Mudashiru Obasa, the Speaker of the House, praised his colleagues for their hard work during the budget review process and instructed the Clerk of the House to provide Governor Sanwo-Olu with a clean copy of the approved measure for his signature.
This budget approval illustrates the Lagos State government’s commitment to continuing growth and development, with large investments anticipated in both recurring and capital expenditures for the future year.
