Lagos Set Aside N50 Billion To Fight Poverty in 2024 Budget

Lagos Set Aside N50 Billion To Fight Poverty in 2024 Budget
Babajide Sanwoolu
Lagos State Government under the administration of Governor Babajide Sanwoolu has set aside N50 billion to "fight poverty" in 2024. The N50 billion social protection vote is part of the N2.23 trillion 2024 Budget of the state.

Lagos State Government boasts that it has budgeted N50 billion to further cushion the effects of the removal of oil subsidies by the President Bola Tinubu-led Federal Government of Nigeria.

Commissioner for Economy, Budget and Planning, Mr. Ope George while speaking, today, during an interview on TVC’s ‘Business Nigeria’ stated "The sum of N50 billion was proposed for social protection to ensure that the citizens are protected from surging inflationary trends. The Budget is heavily focused on social protection and ensuring that we can continuously be able to cushion the effect of the removal of fuel subsidies on our people.

The 2024 Lagos State budget which was christened “Budget of Renewal”, also targets human capital development and infrastructure renewal.

Speaking further Mr. George stated “The Budget was put together via a consultative forum across the State’s five divisions, which sought out the needs of the people and infused the same into the budget as appropriate”, he added. The 2024 Budget proposed that 45% recurrent expenditure at N1.021,954 trillion and 55% capital expenditure at N1.224.280 trillion will be used for the development of the Blue Line Rail which has been showing steady progress by moving up from its initial 12 trips to 52 trips.

The Commissioner encouraged Lagosian to support and give Governor Sanwoolu's administration enough time to deliver its plan for the state.

Category: World-News
Tag: Lagos Set Aside N50 Billion To Fight Poverty in 2024 Budget
Written by Author (author)
Published 12/15/2023 10:36:57 PM

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