Lagos, Ekiti present N1.293tn budgets to assemblies

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Mudiaga Affe and Abiodun Nejo

Lagos State Governor Babajide Sanwo-Olu and his Ekiti State counterpart, Dr Kayode Fayemi on Friday presented the 2020 budgets of N1.293trn to their respective state houses of assembly.

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Sanwo-Olu during his presentation of N1.168tn to the state House of Assembly said the proposed budget christened: “The Budget of Awakening to a Greater Lagos,” would give priority to the completion of ongoing projects.

He said the budget would be funded by projected total revenue of N1.071tn and a deficit of N97.53bn.

Fayemi, who also proposed a 2020 Appropriation Bill of N124.7bn to the state House of Assembly, said the budget, christened ‘Budget of Deliverables’ would consolidate on the 2019 budget with which he said his administration had laid a solid foundation for the transformation of the state along the line of its five-pillar agenda for development.

Sanwo-Olu said the proposed budget would help the state to achieve a sustainable social investment and scale up private sector-led economic growth through investment in infrastructure and security.

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