Lagos State Governor, Babajide Sanwo-Olu has assented N1.163 trillion 2021 budget.
Acccording to him, his administration would make tough decisions in the year 2021.
The lawmakers jacked it up to N1.163 trillion from N1.555trrn earlier submitted to the house.
Sanwo-Olu said the quick passage of the bill shows that the relationship between the executive and legislature in cordiall.
The text of the budget indicates that the budget has a capital to recurrent ratio of 60:40. It comprises N702,935,416,976 capital expenditure and N460,586,793,741 recurrent expenditure.
“With the passage of the bill, we will continue our work of rebuilding Lagos, advancing economic growth, and expanding opportunities for Lagosians to flourish despite the economic challenges caused by the coronavirus.
“As we already know, 2020 will go down in history as a peculiar year largely defined by the COVID-19 Pandemic and the ENDSARS protests, which were recklessly hijacked by those who destroyed some of our public assets and private businesses.
“We are, however, fortunate to be going into the New Year, with an already passed budget, which will help to expedite our recovery process. A significant portion of the budget has been committed to human capital development, youth engagement, social intervention initiatives, and the completion of ongoing projects that are critical to achieving the objectives of our T.H.E.M.E.S agenda,” he said.
Sanwo-Olu assured that the 2021 budget would be pimplemented with the people as focus, adding that his Government will make result-oriented decisions.
“We are going into 2021 with the unwavering determination to engender sustainable and inclusive growth.
”I promise Lagosians that the 2021 Budget will indeed rekindle hope, deliver substantial economic growth, and bolster our efforts to rebuild Lagos. We will make tough choices where necessary and seize opportunities as needed while ensuring that no Lagosian is left behind.
”With the enormous challenges of the outgoing year, we are conscious of the fact that in order to efficiently and successfully implement the 2021 Budget, we must be selfless and dedicated. We are up to the task- with our collective resilience, we will achieve our key goals in all sectors, and nothing will stop us from justifying the trust of the people in this Government,” he added.
“On our part, we will ensure that the resources entrusted in our care are efficiently and prudently managed. We will be non-discriminatory in the distribution of resources. This is a budget for all Lagosians irrespective of their social, economic, ethnic, or religious background,” he stated.