Breaking: Sanwo-Olu presents for assembly approval, N1.155trn 2021 budget - OPID News

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Tuesday, 10 November 2020

Breaking: Sanwo-Olu presents for assembly approval, N1.155trn 2021 budget

 Breaking: Sanwo-Olu presents for assembly approval, N1.155trn 2021 budget 


Sanwo-Olu and Speaker Mudashiru Obasa 

Lagos State Governor, Babajide Sanwo-Olu on Monday presented budget estimates of N1.155 trillion to the State House of Assembly

for approval for the 2021 fiscal year.

The 2021 budget estimates is titled: “Budget of Rekindled Hope.”

The budget estimates is higher than the 2020 budget after it was reduced to N920.5 billion due to challenges of COVID-19 pandemic.

The budget represents N234.5 billion higher than the 2020 budget after it was reduced. But it is lesser than the initial 2020 budget of N1.68 trillion by N53.5 billion.

According to Sanwo-Olu, the 2021 budget has a total revenue of N962.528 billion and a total Internally Generated Revenue, IGR, of N795,744 billion.

The governor said the budget has a Capital Expenditure of 703.272 billion and a Recurrent Expenditure of N451.750 billion.



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