Sanwo-Olu to present 2024 budget to Assembly tomorrow

IBRAHIM QUADRI

Lagos State Governor, Mr Babajide Sanwo-Olu will on Wednesday, 13 December 2023, present the Y2024 Budget before the Lagos State House of Assembly.

This was in a statement signed by the State Commissioner for Information & Strategy, Mr Gbenga Omotoso.

Sanwo-Olu, had on Friday December 8, said the state requires at least N7 Trillion budget size to meet up with infrastructural and basic amenities in the year 2024 fiscal year however plans to present over N2 trillion to state House of Assembly soon.

This came as he expressed readiness to ensure ease of doing business in the state despite current global business challenges, stressing that his administration could not continue to give excuses.

Sanwo-Olu, had on January 31, signed the 2023 appropriation bill of N1.76trn to law at the State House, Ikeja.

Sanwo-Olu, then noted that the budget tagged; Budget of Continuity” was to complete all ongoing projects in different parts of the state.

In October 27, 2022, Sanwo-Olu, presented a N1.69 trillion to the state assembly, which was passed on December 12, 2022, by the lawmakers.

The assembly, however, raised the approved budget by N76billion to N1.768 trillion.

Sanwo-Olu, in company of his deputy, Dr. Obafemi Hamzat, made the remarks at the 8th Lagos Corporate Assembly, a business forum, tagged; “Babajide Olusola Sanwo-Olu, BOS Meets with Business Community,” held at Lagos House, Alausa, Ikeja.

The participants at the well attended programme, include: captains of Industries such as: Chairman of Channels Television, John Momoh, Managing Director Lekki Concession Company, Chairman Silverbird Television, Ben Murray-Bruce, representatives of Manufacturer Association of Nigeria, MAN, Heads of agencies and parastatals, heads of foreign missions, members of the the state executive council, bankers, business leaders, business membership organisations, Micro, Small and Medium Entrepreneurs, MSMEs and all other important stakeholders, among others.

The governor, noted that despite the global business uncertainty, his administration can not give excuses but must work to achieve its set out goals as promise made to the people during campaign period.

For the 2024 budget estimate, Omotoso said, “The Appropriation Bill, which will highlight the details of planned capital projects, recurrent expenditure and anticipated revenue for the fiscal year, will be laid for consideration before the House of Assembly.

“This presentation will follow the over 80 % impressive performance of the Y2023 Budget in Capital Expenditure across Q1, Q2 and Q3.

“Expected at the event are representatives of economic, political, cultural and civil society organisations. It will also be beamed live on some television stations.”