The Lagos State Governor, Mr Bababjide Sanwo-Olu on Thursday, presented year 2023 Appropriation Bill of over N1.692trillion to the State House of Assembly for consideration and approval.
The Budget Estimates stands at N1,692,670,759,894 with Recurrent expenditure as N759,958,569,792 (45%) and Capital being N932,712,190,102 (55%).
Christened the ‘Budget of Continuity’, the governor said its effective implementation will be for the benefit of all.
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 governor, who described the state as a “national asset”, said the benefits of Lagos transcend a region of the country as all Nigerians enjoy the state’s prosperity in one way or the other
He however urged the Federal Government to grant special economic status to Lagos.
He said, “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.
