Newly elected Lagos State governor, Babajide Sanwo-Olu, has signed the Lagos State 2019 Appropriation Bill into law just days after he was sworn in.
The governor signed the budget, pegged at N873, 532,460,725, on Monday, June 3, 2019.
Former governor, Akinwunmi Ambode, presented a budget of N852, 316,936,483 before the House of Assembly on February 5 but it wasn’t passed until late in April.
While presenting the bill to the legislators three months ago, Ambode disclosed that recurrent expenditure would be N389.6 billion and capital expenditure would be N462.8 billion with a capital/recurrent ratio of 54:46.
However, in the bill signed by Sanwo-Olu on Monday, recurrent expenditure was pegged at N393,841,387,20, while capital expenditure was pegged at N479, 691,73,705.
