BREAKING: Lagos Assembly Approves ₦3.4 Trillion 2025 Budget

• Lagos Assembly approves ₦3.37 trillion budget for 2025 fiscal year.
• ₦2.07 trillion allocated for capital projects, ₦1.29 trillion for recurrent.
• Speaker directs transmission of bill to Governor Sanwo-Olu for assent.

The Lagos State House of Assembly has approved a total budget of ₦3,366,815,224,144 for the year 2025.

The approval came during a plenary session on Monday, following the presentation of a report by Hon. Sa’ad Olumoh, chairman of the joint committee on appropriation and finance.

The session was presided over by Speaker Rt. Hon. Mudashiru Obasa, who lauded lawmakers for their diligent efforts in passing the budget.

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EKO HOT BLOG reports that the 2025 budget comprises ₦1.29 trillion for recurrent expenditure and ₦2.07 trillion for capital expenditure.

The Speaker directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit the bill to Governor Babajide Sanwo-Olu for assent.

Governor Sanwo-Olu initially proposed a budget of ₦3.005 trillion on November 21, highlighting a deficit of ₦408.9 billion to be financed through external and internal loans and bonds. The approved budget surpasses the governor’s proposal, reflecting adjustments by the Assembly.

Lagos Assembly 2025 Budget

In addition to the budget approval, the Assembly passed a bill consolidating laws on local government administration in Lagos State. This legislation integrates constitutional amendments and updates from the National Assembly affecting local governments in Lagos.

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