Infrastructure tops as Sanwo-Olu presents N1.3tn budget to Assembly

Governor of Lagos State, Babajide Sanwo-Olu, on Wednesday presented a 2022 budget proposal of N1,388,285,459,990.51 to the House of Assembly.

The Chief Press Secretary to the Governor, Gboyega Akosile, made this known in a statement titled, ‘Infrastructure, Education Top Lagos’ Priorities In 2022, As Sanwo-olu Proposes N1.39 Trillion Budget.’

According to the Governor, the State would be spending N325 billion to deliver vital infrastructure projects in key sectors of its economy.

Suck key sectors include Works and Infrastructure, Waterfront Infrastructure Development, Agriculture, Transportation, Energy and Mineral Resources, Tourism, Entertainment and Creative Industry, Commerce and Industry, Wealth Creation and Employment.

The financial proposal tagged ‘Budget of Consolidation’ has an allocation of 21.24 per cent combined in the total expenditure to education and health.

Explaining the budget, Sanwo-Olu said, “Year 2022 budget is the next step on our journey to true and sustainable greatness in Lagos.

“The challenging environment requires that we focus our interventions on areas of greatest social impact and achieve the greatest good for the greatest number in the shortest possible time.

“Next year is an excellent opportunity for us to consolidate on what we have done so far, and ensure that every effort, investment inflow, partnership, business policy is translating maximally into noticeable positive impact in the lives of our people.

“It is in this light that we are presenting the Year 2022 Budget of Consolidation with a size of N1,388,285,459,990.51. This financial proposal is presented with a sense of duty and absolute commitment to the transformation of Lagos to a preferred global destination for residence, commerce, and investment.

“The budget projects to see a continuing but gradual recovery to growth in economic activity as the global economy cautiously recovers from the impact of the Coronavirus pandemic.”