Lagos State Governor Babajide Sanwo-Olu on Wednesday presented the 2022 budget proposal to the House of Representatives for N1,388,285,459,990.51.
The ruling party’s press secretary, Gboyega Agizi, said: ‘Infrastructure, higher education in Lagos’ priorities for 2022, Sano-Olu presents budget of N1.39 trillion.’
According to the governor, the state will spend N325 billion to provide critical infrastructure projects in key sectors of the economy.
Suck key sectors include employment and infrastructure, coastal infrastructure development, agriculture, transport, energy and minerals, tourism, entertainment and innovation industry, trade and industry, asset creation and employment.
The financial proposal, dubbed the ‘Strengthening Budget’, accounts for 21.24 percent of total education and health spending.
Explaining the budget, Sanwo Olu said, “The 2022 budget is the next step in our journey to true and sustainable growth in Lagos.
“The difficult environment requires us to focus our intervention on areas of high social impact and achieve the greatest benefit possible in the shortest possible time,” he said.
“It is a great opportunity to build on the work we have done so far next year and to ensure that every effort, investment flow, partnership, and trade policy is being translated into a significant positive impact on the lives of our people.”
“In this regard, we are presenting the 2022 consolidation budget at N1,388,285,459,990.51. This financial proposal is committed to making Lagos the ultimate destination for residential, commercial and investment investment.
As the world economy recovers from the effects of the cholera epidemic, “The budget project is sustainable but is slowly recovering.
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