- Lagos State Governor, Babajide Sanwo-Olu on Thursday presented a budget of N1.69 trillion to the State House of Assembly for approval for the 2023 fiscal year
- The presentation of the 2023 appropriation bill held at Lagos State House of Assembly, Alausa, Ikeja
- Presenting the budget, Sanwo-Olu the 2023 budget of Continuity will propel lagos into the next level
The Lagos state governor, Babajide Sanwo-Olu, has presented the 2023 appropriation Bill to the state Assembly.
Sanwo-Olu presented Year 2023 Appropriation Bill of over N1.692 Trillion before members of the State House of Assembly for consideration and approval.
The presentation of the 2023 appropriation bill, tagged: “Budget of Continuous Development,” held at Lagos State House of Assembly, Alausa, Ikeja, was attended by a large crowd including dignitaries across the state.
According to him, the budget will help his administration to continue on the path of people centered policy making and investments to create the right environment and access to high quality healthcare , education and skilling opportunities.
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During the presentation, Sanwo-Olu said the new Blue Line and Red Line rails would commence operations by the first quarter of 2023.
He noted that the new rails would generate thousands of jobs upon their commencement of service.
New airport in Lekki and other Large Investments that could make Lagos West Africa's biggest economy
In another report, Lagos state, Nigeria’s melting point is said to be one of the largest economies in West Africa, almost twice the size of the economies of Togo, the Benin Republic and the Niger Republic.
It is the microcosm of Nigeria, has the biggest Gross Domestic Product (GPD) in the country with $91 billion, and earns far more than any other state from internally generated revenue (IGR).
Lagos also leads other states as the highest indebted in the country. Data from the Debt Management Office (DMO) states that the external debt of Lagos is over $1 billion.
According to BusinessDay, Lagos owes about $1.33 billion in external debts, leading the pack of other highly indebted states in Nigeria. With over 20 million residents, vibrant commerce and good infrastructure, Lagos is also a choice destination for investors.