Lagos to fund 2023 budget with N350b loan
27 October 2022 |
2:35 pm
Lagos State Governor, Mr. Babajide Sanwo-Olu has revealed that the state would borrow N350b to finance the state 2023 budget of N1.692trn. The governor, who presented the budget to the state assembly, said the state government is expecting a N1.342b revenue to fund the budget. According to Sanwo-Olu, about N759b would be for recurrent expenditure…
Lagos State Governor, Mr. Babajide Sanwo-Olu has revealed that the state would borrow N350b to finance the state 2023 budget of N1.692trn.
The governor, who presented the budget to the state assembly, said the state government is expecting a N1.342b revenue to fund the budget.
According to Sanwo-Olu, about N759b would be for recurrent expenditure while N932b would be for capital expenditure.
The governor before giving details of the 2023 budget took time to provide details of projects and programme executed by his administration in the past three years.
Sanwo-Olu asked that Lagos State should be given a special status because it needs all the support to succeed as a subnational that receives people from every part of the country.
Details later.
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