Sanwo-Olu Presents 2023 Budget To Lagos Assembly

The Lagos State Governor, Babajide Sanwo-Olu, on Thursday, presented the state’s 2023 appropriation Bill to the State House of Assembly.

Naija News reports that Sanwo-Olu stood before the Assembly to defend the proposed budget for 2023.

The governor at the presentation said the new Blue Line and Red Line rails would commence operations by the first quarter of 2023.

He said the new rails would generate thousands of jobs upon their commencement of service.

The ‘Budget of Continuity’ comprises revenue of N1.342 billion and deficit financing of N350,000 billion.

This further comprises total Internally Generated Revenue (IGR) of N1.108 billion and federal transfers of N234 billion.

The estimate also proposes a recurrent expenditure of N759 billion and a Capital expenditure of N670 billion.