Governor Babajide Sanwo-Olu of Lagos State on Thursday presented the 2023 Budget Estimates of N1.68 trillion to the Lagos State House of Assembly, Alausa, Ikeja.
The Budget Estimates of N1,692,670,759,894 contains Recurrent expenditure of N759,958,569,792 (45%) and Capital expenditure of N932,712,190,102 (55%).
Governor Sanwo-Olu, tagging it “Budget of Continuity”, said that the effective implementation will be for the benefit of all.
The governor declared: “Lagos continues to experience increased pressure on social services due to unhindered migration from other parts of the country.
“It is for this reason that I always sought and I will still continue to reiterate the need for Lagos to be accorded a special status as a national asset.
“Lagos is too big for this country to allow it to fail. Lagos is too strategic for us not to see it that the wholesome of Lagos is the wholesome of this country, that the benefits of Lagos transcend one region, one part or one scope of this country.
“As a microcosm of the entire country, Lagos deserves all the support it can get at the national level.”
Sanwo-Olu also invited the private sector to make contribution to the development of the state.
According to him, “The development of any megacity like ours is the responsibility of both the public and private sectors, and to this end, we will continue to explore public-private-partnership strategies in the provision of infrastructure, social services, and the conversion of challenges to opportunities within the context of scarce resources.
“I am indeed very grateful to the members of the organized private sector who have always heeded our calls for partnership and shown great and uncommon civic engagement with our government.”