Sanwo-Olu Presents N1.168trn Budget
Lagos State governor, Babajide sanwo-olu presented the 2020 budget of 1.168 trillion Naira to the State House of Assembly on Friday.
The appropriation bill, tagged "Budget of Awakening" seeks to attract private sector investments to the state economy, among other objectives.
Governor Sanwo-olu announced that the budget will be funded from a projected internally generated revenue of 1.071 trillion Naira while the budget deficit, put at 97.53billion Naira will be financed through internal and external loans.
He added that the fiscal proposal also included a provision for the new minimum wage.
Speaking afterwards in his reaction, Speaker of the House, Mudashiru Obasa, assured the governor that the lawmakers will work together for the early passage of the bill for the development of the state.