The Lagos State Governor, Babajide Sanwo-Olu, on Thursday presented N1.693 trillion 2023 Appropriation Bill to the House of Assembly.
Of the proposed 2023 expenditure, N1.3 trillion would accrue from Internally Generated Revenues and federal transfers, while deficit financing of N350 billion would be sourced from external and domestic loans, and bonds projected to be within the state’s fiscal sustainability parameters.
According to the governor, the state will earmark an aggregate of N67.4 billion, representing 3.98 per cent of the 2023 budget, to achieve the government’s social housing programme and provide amenities across communities.
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The state, the governor said, would sustain its strategic investment in human capital and channel resources to deliver more infrastructures to keep its economy on the path of growth beyond next year.
The state Government’s major concerns in 2023 are health and environment, education, and the economy.
