Sanwo-Olu Presents ₦1.168trn 2020 Budget
November 8, 2019
1:31 pm
Lagos State Governor, Babajide Sanwo-Olu, on Friday presented a budget of ₦1.168 trillion to the Lagos State House of Assembly for approval for the 2020 fiscal year. The budget is higher than the 2019 appropriation bill by 34 per cent.
According to the Governor, Capital Expenditure amounts to ₦723.75 billion while Recurrent Expenditure is ₦444.81 billion, giving a capital to recurrent ratio 62:38 percent.
Sanwo-Olu disclosed that the proposed budget will be funded by a projected revenue inlay of ₦1.071 trillion and a deficit amounting to N97.53 billion.
“This, in our view, is strong for development. We have placed …
