'Seun Ibukun-Oni, Abuja
DAILY COURIER - Lagos State Governor Babajide Sanwo-Olu presented the state’s 2025 budget proposal of N3.005 trillion to the House of Assembly, emphasizing a robust focus on sustainability and development. Tagged the “Budget of Sustainability,” the proposal reflects a 32.5% increase from the current year’s budget of N2.3 trillion, underscoring the administration’s commitment to addressing the state’s growing developmental needs.
The budget includes a substantial capital investment of N908.7 billion, targeting strategic sectors such as tourism, agriculture, transportation, and infrastructure. Governor Sanwo-Olu stressed that infrastructure sustainability remains pivotal for Lagos’ growth trajectory, alongside economic diversification, social inclusion, human capital development, and environmental sustainability.
Infrastructure as a priority
Highlighting the administration’s achievements, the governor announced the completion of 30 road projects, including bridges, set to be commissioned soon. He also revealed a Memorandum of Understanding (MoU) with the Federal Government to commence the development of the 68-kilometer Green Line rail project, which will connect Marina to the Lekki Free Trade Zone, promising enhanced connectivity and economic activity.
“Maintaining investment in infrastructure is vital for the state’s growth momentum,” Sanwo-Olu noted during his presentation.
A blueprint for sustainable development
The proposed budget represents more than just a fiscal plan; it is positioned as a comprehensive strategy for resilience and shared prosperity. The governor reaffirmed his administration’s commitment to leveraging resources to ensure social inclusion and economic empowerment for all Lagosians.
“This budget is more than just a fiscal plan; it’s a blueprint for resilience and shared prosperity for all Lagosians,” he stated.
Focus areas and pillars
The 2025 budget is anchored on five pillars:
Infrastructure Sustainability – Ensuring continued investment in projects that drive growth.
Economic Diversification – Broadening Lagos’ economic base through sectors like agriculture and tourism.
Social Inclusion – Creating opportunities for marginalized communities.
Human Capital Development – Prioritizing education, health, and workforce empowerment.
Environmental Sustainability – Strengthening resilience to climate challenges.
Governor Sanwo-Olu urged members of the House of Assembly to prioritize the swift passage of the budget, stressing its importance in driving the state’s development goals for the coming year.
As Lagosians await the implementation of the ambitious budget, stakeholders are optimistic that the proposed investments will foster economic growth, infrastructure advancement, and improved quality of life across the state.
