Friday, November 22, 2024 The Lagos State Government, under Governor Babajide Sanwo-Olu, recently unveiled its 2025 budget proposal, marking a significant step forward in the region’s strategic development plans. The N3.005 trillion budget, tagged the “Budget of Sustainability,” aims to address the growing needs of its residents while bolstering economic growth, tourism, and infrastructure.
This proposed budget represents a 32.5% increase over the previous fiscal year and sets ambitious targets for transforming Lagos into a hub of cultural, economic, and social progress. Governor Sanwo-Olu highlighted the government’s priorities in this new fiscal year, emphasizing the need for investment in infrastructure, tourism, and creative sectors.
The proposal allocates N908.7 billion to the Economic Affairs sector, which includes tourism, transportation, and creative arts, among others. By targeting these areas, Lagos aims to enhance its global competitiveness, drive economic diversification, and create inclusive opportunities for its citizens.
A significant portion of the 2025 budget will focus on the tourism and creative arts sectors. Governor Sanwo-Olu emphasized that revitalizing cultural, religious, and recreational infrastructure is critical for preserving the state’s heritage and unlocking the tourism economy. These initiatives are expected to create spaces for artistic expression, attract international tourists, and boost the local economy.
By prioritizing these area.