• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Economy Budget

Sanwo-Olu presents N1.1 trillion 2020 budget

Bamidele Samuel Adesoji by Bamidele Samuel Adesoji
November 8, 2019
in Budget, Politics
Sanwo-Olu presents N1.1 trillion 2020 budget
Share on FacebookShare on TwitterShare on Linkedin

Lagos Governor, Babajide Sanwo-Olu has presented a total budget size of N1.168trillion for 2020 to the House of Assembly. The budget is tagged “awakening to Greater Lagos”.

The Governor presented the budget estimate on Friday, allocating N723.6 billion to capital expenditure and N441.8billion for recurrent expenditure, which represents a ratio of 62-38%.

The Breakdown of the budget shows that N167.81 billion of the recurrent expenditure will go for personnel costs and other staff-related expenses, representing 22.02% of the total budget. According to the Governor, the budget for the personal cost is within the acceptable wage policy, which benchmarks 25% for staff overheads in the budget.

RelatedStories

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025

Speaking on the budget, the Governor said, “the 2020 Budget will be supported by a Performance Management System that will ensure that, by December 2020, we shall achieve an optimal budget implementation when compared with previous years. This is in line with our commitment to transparency and accountability in the management of public finances.

“We have provided N11.8 billion as counterpart funds in preparation for various social impact schemes. In addition, we have made provisions for N7.1 billion this year, to provide for industrial hubs, parks, graduate internship programs and virtual markets for artisans. This is in support for Micro, Small and Medium Enterprises (MSMEs) which are the engines for both economic and employment growth.”

L-R: Lagos State Governor, Babjide Sanwo-Olu, State Speaker, the Rt. Hon. Mudashiru

While further commenting on the budget, Sanwo-Olu noted that the proposed budget would help the State achieve a sustainable social investment and scale up private sector-led economic growth through investment in infrastructure and security. He also disclosed that it would improve civic engagement in governance and foster partnership with the Federal Government and the civil society.

“Lagos faces an existential threat, arising from the interplay of demographic and climate change. Lagos will continue to be a magnet for multitudes within and outside Nigeria, in search of jobs and economic prosperity. These levels of migration put a phenomenal strain on the physical and fiscal resources of the state.

“In response to the perennial challenges of flooding in the metropolis, we have to triple the capital budget provision to tackle these observed problems from N3 billion in 2019 to N9 billion in 2020. We are embarking on massive desilting of major drain systems across the State next year.”


Follow us for Breaking News and Market Intelligence.
Tags: Babajide Sanwo-OluLagos StateOn the Money
Bamidele Samuel Adesoji

Bamidele Samuel Adesoji

Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

Related Posts

Lagos launches clean cookstove initiative with N10,000 monthly stipend 
Energy

Lagos launches clean cookstove initiative with N10,000 monthly stipend 

July 2, 2025
Economy

The 10 most indebted states in Nigeria as of December 2024

June 28, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Real Estate and Construction

Lagos Govt targets completion of 14,000 housing units by 2026 

June 11, 2025
LASTMA impounds 9,370 vehicles over traffic violations in H1 2024
Sectors

Lagos Govt impounds 235 vehicles for illegal parking, traffic violations, and other infractions 

May 29, 2025
Lagos emerges the world’s fastest-growing tech city in 2025 
Sectors

Lagos emerges the world’s fastest-growing tech city in 2025 

May 22, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Business News

Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

May 21, 2025
Next Post
Dangote expresses confidence of making 30 billion revenue , Dangote condemns low input of manufacturing sector to economy , Dangote Group goes to Togo, sets up fertiliser and cement factories

Dangote Group goes to Togo, sets up fertiliser and cement factories

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • IMF commendation sparks strong gains for Naira across parallel, official markets 
  • WHO pushes for 50% health tax hike on tobacco, alcohol, sugary drinks globally to curb chronic diseases
  • Tantalizers announces partnership to revive DBN TV, reveals plans to promote African storytelling 

Follow us on social media:

Recent News

IMF commendation sparks strong gains for Naira across parallel, official markets 

July 3, 2025
WHO,

WHO pushes for 50% health tax hike on tobacco, alcohol, sugary drinks globally to curb chronic diseases

July 3, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics