Lagos State Governor, Mr. Babajide Sanwo-Olu and Ogun State Governor, Prince Dapo Abiodun has respectively signed the State’s N1.168 Trillion and N449.97 Billion 2020 Budget into law.
The Lagos State Governor, Mr. Babajide Sanwo-Olu assented to the Appropriation Bill at a short ceremony held in Alausa on Tuesday, pledging that the State would be open and accountable in the implementation of the budget while the Ogun state Governor, Prince Dapo Abiodun signed the State 2020 Appropriation Bill into law on Monday in Ogun State.
Gov Sanwoolu described the ratified expenditure as a “New Year present” to all residents of the State, saying his administration’s efforts to deliver a ’Greater Lagos’ had gained additional momentum.
The budget-signing event was attended by members of the Executive Council and House of Assembly.
H.E Babajide Sanwo-Olu assured that there would be accountability and transparency in the implementation of the approved financial plan.
On his part, Gov. Abiodun 2020 budget proposal was N449.97bn.
The Assembly retained the budget size with an adjustment to the capital expenditure leading to an increment of N2.1bn for capital projects.
The realignment moved the capital estimate from N269, 132,349,884.46 to N271, 232,349,884.46. Prince Dapo Abiodun while assenting to the Bill assured the people of the state that his administration would be measured by the performance of the budget hence the implementation of the year 2020 budget was sacrosanct.
He noted that his administration would also follow through on all of its vision and that his administration would ensure that the budget was implemented to the letter.
Abiodun said that his administration would ensure that all the assumptions that have been made in the area of revenue generation was met.
He pledged that his administration is determined to ensure that the citizens of the state enjoy the dividend of democracy.
“We will ensure that this budget is implemented to the letter, we will do everything to ensure that all the assumptions that have been made, particularly in the areas of revenue generation become a reality and we will follow through on our vision,” he said.