The Governor of Lagos State, Bababjide Sanwo-Olu, will deliver the Year 2022 Appropriation Bill to members of the State House of Assembly on Wednesday, November 17, 2021, in Alausa, Ikeja.
According to the constitution, Sanwo-Olu is expected to offer the budget estimates to Lawmakers for review and approval.
Members of the state executive council are anticipated to attend the event, which will begin at 11 a.m. at the state Assembly Complex in Alausa, Ikeja.
Though the details of the year 2022 were still sketchy as of press time, a source revealed that the 2022 budget estimates are greater than the N1.163 trillion budget predictions of the previous year.
Recall that on November 10, 2020, the governor presented the Year 2021 budget estimates of 1.155 trillion, titled “Budget of Rekindled Hope,” to members of the state House of Assembly, to be paid via an estimated total income of 962,528 billion.
Instructively, the state House of Assembly, subsequently, in its considerations increased the budget size to N1.163 trillion.
The budget has a Capital Expenditure of N702.9 billion and a Recurrent Expenditure of N460.6 billion, resulting in a 60:40 split.
Sanwo-Olu signed the budget for the year 2021 into law on December 31, 2020.
While speaking at the presentation of the 2021 Budget, Sanwo-Olu, stated that it was meant to reflect the desire to overcome the problems that had hindered development indicators in the previous ten months, as a result of COVID-19 pandemic challenges.
“As well as demonstrate the willingness to overcome all obstacles and deliver all electoral promises to Lagosians; stating that the Y2021 budget will reflect the continued execution of the THEMES,” the governor added.
