Sanwo-Olu presents N1.168 trillion Budget for 2020 to Lagos House of Assembly

 

Lagos State Governor, Babajide Sanwo-Olu on Friday presented a budget of N1.168 trillion to the Lagos State House of Assembly for approval for the 2020 fiscal year.

The proposal represents 11.3 per cent of the proposed 2020 budget of the entire country which is put at 10.22 trillion.

The proposed budget is to be funded by a projected Total Revenue of N1.071 trillion and a deficit amounting to N97.53 billion.

The budget size is higher than the 2019 budget by 34%. Capital Expenditure amounts to N723.75 billion while the Recurrent Expenditure is N444.81 billion, giving a 62:38 capital to recurrent ratio.

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