GOVERNOR Babajide Sanwo-Olu has identified priority areas of the state in 2023, as he presented a #1.693 trillion 2023 appropriation bill to the House of Assembly on Thursday, October 27, 2022.
The Governor said the state would sustain its strategic investment in human capital and channel resources to deliver more infrastructure to keep its economy on the path of growth beyond next year.
During the budget presentation, Sanwo-Olu said the state government’s major concern in 2023 would be health, environment, education, and economy.
Sanwo-Olu proposed #153.5 billion allocation to education next year, representing 9.07 per cent of the total budget estimates, to consolidate the gains of the past years in the sector. He said the previous investments in education had yielded positive results, leading to the achievement of a record-high performance of 82 per cent in the 2022 West African Senior School Certificate Examination (WASSCE).
Sanwo-Olu said that the fiscal proposal tagged, “Budget of Continuity” presented his administration the opportunity to consolidate its development strides since inception and satisfy the yearnings of the residents.
The 2023 Appropriation Bill has a capital expenditure of #932.7 billion, representing 55 per cent of the 2023 budget. The recurrent expenditure, representing 45 per cent is #759.96 billion, which includes personnel cost, overhead, and debt services.
Sanwo-Olu said the next year’s spending would further demonstrate his government’s determination to scale up good governance and quality service to the people through the T.H.E.M.E.S Agenda, stressing that the budget would propel the State to a higher level of financial growth and social development.
He said: “The 2023 Appropriation Bill, which will be the final budget of our administration before the 2023 general elections, expresses our unwavering determination to keep serving the people of Lagos through our development agenda, while we uphold the trust and faith reposed in us by the people since 2019.
“As we return to the campaign trail to seek the mandate of Lagosians for another four years, we have resolved to continue our audacious interventions in every sector of the economy."
