Gov. Babajide Sanwo-Olu of Lagos State has presented a N2.246 trillion “Budget of Renewal” to the Lagos State House of Assembly.
According to him, the budget is made up of recurrent expenditure of N1.02 trillion, representing 45 percent, and capital expenditure of N1.2 trillion representing 55 percent.
The state anticipates internally generated revenue of N1.251 trillion and Federal Government allocations of N596.629 billion.
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Giving highlights of sectoral allocations, Governor Sanwo-Olu said N535 billion was budgeted for economic affairs; N94 billion for environment; and N156 billion for health.
Education gets N199 billion; social protection is put at N50 billion, while public order and safety gets N84 billion.
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