By Habeeb Ibrahim
The Lagos State Government has proposed a 32.5% increase in its 2025 budget, reflecting a total expenditure of N3.005 trillion. Tagged the “Budget of Sustainability,” this marks a significant jump from the N2.3 trillion budget for 2024.
Governor Babajide Sanwo-Olu presented the budget to the Lagos State House of Assembly on Thursday, emphasizing the state’s commitment to sustainable development and growth.
The proposed budget allocates a substantial N908.7 billion for capital projects, with priorities in tourism, agriculture, transportation, and infrastructure development. This focus aligns with the state’s overarching strategy to meet the rising demands of a rapidly growing population and urbanization challenges.
Speaking during the presentation, Sanwo-Olu highlighted the five pillars guiding the budget: infrastructure sustainability, economic diversification, social inclusion, human capital development, and environmental sustainability.
“Our focus on maintaining investments in critical infrastructure is crucial to sustaining Lagos’ growth momentum,” he said, adding that 30 road projects, including bridges, have been completed and are slated for commissioning.
In addition to the completed projects, the governor announced a partnership with the Federal Government to develop the 68-kilometer Green Line rail, which will connect Marina to the Lekki Free Trade Zone. This initiative is expected to significantly boost the state’s transportation network and enhance economic activities within the Lekki corridor.
Sanwo-Olu described the budget as more than a fiscal plan, noting, “It’s a blueprint for resilience and shared prosperity for all Lagosians.”
The proposed increase underscores the state’s drive to achieve long-term sustainability, with investments aimed at addressing critical areas of need while ensuring that no Lagosian is left behind.
