Infrastructure Development Takes Large Chunk Of 2025 Lagos State Budget

Lagos State Government said it has earmarked N1.052 trillion in its 2025 budget for infrastructural sustainability, in line with Governor Babajide Sanwo-Olu’s administration’s plan to complete ongoing projects in different parts of the State.

This was disclosed by Lagos State Commissioner for Economic Planning and Budget, Mr Ope George, while announcing the breakdown of the year 2025 budget in the different sectors during the ministry’s Budget Analysis press conference held at Alausa, Ikeja on Friday.

George addressed the press in the company of his colleagues, Mr Gbenga Omotoso (Information and Strategy), Mr Abayomi Oluyomi (Finance), Prof. Akin Abayomi (Health), Mr Tokunbo Wahab (Environment and Water Resources), Mr Oluwaseun Osiyemi (Transport), Mr Tunbosun Alake (Innovation, Science and Technology), Mr Biodun Ogunleye (Energy and Mineral Resources), Mr. Jamiu Alli-Balogun (Basic Education) and Mr. Tolani Akibu (Tertiary Education), as well as the Special Adviser to the Governor on Works, Dr. Adeyinka Olayinka, and his counterparts, Engr. Olufemi Daramola (Infrastructure) and Dr. Rotimi Fashola (Agriculture).  

The Budget Commissioner said the Lagos State budget size of ₦3.367trillion will be funded from a total revenue estimate of ₦2.968 trillion, comprising N2.230 trillion from Internally Generated Revenue (IGR), Capital Receipts of N111.839 billion and federal transfer of N626.137 billion. He said the Lagos State Internal Revenue Service (LIRS) is expected to contribute 63 per cent (N1.4 trillion) of the projected IGR, while other ministries, departments and agencies (MDAs) of government will generate about 37 per cent (N830.177billion).