Gov Babajide Sanwo-Olu is seeking approval for the reallocation of the sum of N234.669 billion from the 2023 budget total of N1.768 trillion.
The governor, in a letter written to the Lagos State House of Assembly expressed his intention to reorder the budget in order to prioritize capital expenditure and provide relief measures to alleviate the impact of the current economic challenges faced by the residents of the State.
Sanwo-Olu’s letter addressed to Speaker Mudashiru Obasa and the lawmakers, emphasized the increasing need for his administration to address the demands and aspirations of the people.
He also highlighted that the 2023 budget had been partially implemented, with an overall performance of 76 per cent as of 30 June 2023.
“We noted that some of the major MDAs that are supposed to implement the capital expenditure are performing below expectation while others have almost exhausted their budgetary provisions,” the governor said in the letter dated 9th October 2023, while noting that the administration plans to spend in priority areas once the approval is granted.
Governor Sanwo-Olu added that the government was working to ensure greater performance of the capital expenditure.
“Apart from this, we are confronted with the need of this administration to meet its electoral promises to the citizens and have resolved to take advantage of the clement weather conditions in the later part of this year to complete various projects,” Sanwo-Olu’s letter explained.
He said the reordering had also become expedient to help ameliorate the effect of the removal of fuel subsidies and the harmonisation of the exchange rates, which have resulted in economic challenges for the citizens.
Governor Sanwo-Olu listed some of the projects meant to be implemented with the reordered budget, including the Face 1 Blue Rail Line, provision of programmes and projects for social inclusion, gender equality and youth, completion of Lekki-Epe Road Face 3, provision of security and emergency equipment as well as zero-tolerance for potholes.
The letter also confirmed Sanwo-Olu’s recommendation of Mrs. Kemi Ogunyemi to the lawmakers for confirmation as a member of the State Executive Council.
