Convener of Campaign for Dignity in Governance, Razaq Olokoba has commended Governor Babajide Sanwo-Olu for allocating huge resources to infrastructure and tourism in the N3.005tn budget appropriation bill proposal for the year 2025.
Speaking during a press conference on Sunday in Abuja, Olokooba described the Lagos Governor as a foresighted leader who is passionate about positive transformation in the state and the nation during a press conference on Sunday in Lagos; expressing delight in Sanwo-Olu’s quest to ensure that development in Lagos is advanced under his watch.
Olokooba noted that the Lagos State government’s decision to allocate more resources to infrastructure and tourism signifies seriousness to advancing the development revolution in the state to every nook and cranny of the state.
He posited that Sanwo-Olu has rebounded the economy of Lagos quickly in terms of laudable infrastructure, massive projects, job creation, and provisional supply of public amenities and infrastructure developments.
Olokooba extolled the exemplary leadership of Governor Sanwo-Olu which they said dates back to the periods of global health crisis COVID-19 pandemic in 2020; which helped in great measures to reduce human casualties due to the pandemic.
Olokooba commended Sanwo-Olu for achieving infrastructural milestones to chart a new course to improve the state’s economic fortunes to attract Foreign Direct Investments.
“Infrastructure transformation in Lagos would boost massive improvements in state income, improve livelihoods, create employment, strengthen impactful reforms, and increase the Gross Domestic Product of the nation’s commercial hub.
“So we are happy that Gov Sanwo-Olu, understands the state and what is important to us and we are in full support these effort to take of change the state for good,” Olokooba stated.
Governor of Lagos State, Babajide Sanwo-Olu presented the proposed budget of N3,005,935,198,401 to the Assembly during a session presided over by Speaker, Mudashiru Obasa last Thursday.
Tagged ‘Budget of Sustainability,’ the budget, according to the governor, aims to address infrastructure, economic diversification and other critical sectors in the state.
The budget comprised a Total Revenue of N2,597,034,000,000 and Deficit Financing of N408,902,000,000.
The Total Revenue comprised Internally Generated Revenue of N1,970,897,000,000 and Total Federal Transfers of N626,137,000,000.
The governor equally proposed a recurrent expenditure of N1.24tn and a Capital Expenditure of N1.76tn.
The sectoral allocation includes Economic Affairs – N908.699bn; Environment – N233.176bn; Health – N204.005bn; Education –N208.376bn; Security, Safety and Public Order – N124.073bn and Social Protection – N47.077bn.
Speaking during the presentation Sanwo-Olu said, “This budget is structured around five key pillars designed to ensure economic stability, environmental stewardship, and social equity. They include Infrastructure Sustainability, Economic Diversification, Social Inclusion and Human Capital Development, Environmental Sustainability and Governance and Institutional Reforms.”
He added, “Mr. Speaker, honorable members of the House, let me assure you that this budget is not just a statement of intentions but a practical, actionable framework designed to impact lives. From the students and entrepreneurs in Yaba to the farmers and fishermen in Epe and Badagry; from the business executives and market women on Lagos Island to the factory workers in Ikorodu, this budget is all about the people of Lagos.
“As we prepare for the approval and implementation of this budget, I urge every one of us to play our part in building a Lagos that endures. Let us remember that sustainability is not just about preserving resources; it is also about creating opportunities for the future while meeting the needs of the present.
“I would like to end by assuring this honourable House and by extension, the residents of Lagos, of my commitment towards ensuring that this proposed budget can effectively recalibrate the state’s economy, stimulate economic growth and strengthen the positive trajectory in which the state is headed.”
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