Lagos State Governor, Babajide Sanwo-Olu on Thursday presented a budget of N1.69 trillion to the State House of Assembly for approval for the 2023 fiscal year.
The ‘Budget of Continuous Development’ comprises revenue of N1.342 billion and deficit financing of N350,000 billion.
It further comprises total Internally Generated Revenue (IGR) of N1.108 billion and federal transfers of N234 billion.
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The estimate also proposes a recurrent expenditure of N759 billion and a Capital expenditure of N670 billion.
The presentation of the 2023 budget which was held at Lagos State House of Assembly, Alausa, Ikeja, had a large crowd including dignitaries across the state in attendance.
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