Lagos State Governor, Babajide Sanwo-Olu on Friday presented a budget of N1.168 trillion to the Lagos State House of Assembly for approval for the 2020 fiscal year.
The proposed budget is to be funded by a projected Total Revenue of N1.071 trillion and a deficit amounting to N97.53 billion.
The appropriation bill, the first to be presented by the 15th governor of the state, is coming few weeks to the end of the 2019 fiscal year.
Budget is christened, Budget of awakening
The budget size is about 34% higher than the year 2019 budget Capital expenditure is 724.6billion
While recurrent expenditure is 441.8 billion, capital to recurrent ratio is 62 to 48%