Budget: Lagos To Spend N1.15trn In 2021

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Lagos State Government has proposed a total spending of N1.155 trillion in 2021.

Lagos State Governor, Babajide Sanwo-Olu presented the 2021 Budget estimates of N1,155,022,413,005.82 to the State House of Assembly on Tuesday for consideration and approval.

Presenting the budget christened “the Budget of Rekindled Hope”, Sanwo-Olu unveiled his administration’s plan to remain focussed in the acceleration of the growth of State’s economy despite challenges of COVID-19 pandemic and #EndSARS protests occasioned by destruction of lives and property.

 

The Lagos State Government had on November 8, 2019, proposed a budget of N1.168 trillion for 2020.

The 2020 Budget was to be funded from a projected Internally Generated Revenue (IGR) of N1.071 trillion.

The budget was however revised to N920.5 billion from N1,168.6 trillion, earlier approved by the State House of Assembly due to the COVID-19 pandemic which resulted in economic shutdown for several months.

 

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