Lagos will take N253bn to fund 2022 budget

Lagos will take N253bn to fund 2022 budget

The governor said the deficit financing would be by way of a combination of external and domestic loans and bonds, which are well within the state’s fiscal sustainability parameters.

Governor Babajide Sanwo-Olu on Wednesday uncovered that the Lagos State Government will acquire ₦253,126,367,168.21. to finance the 2022 budget. The governor had introduced a budget proposition of N1.388 trillion to the House of Assembly for endorsement for the 2022 fiscal year. He said the deficit budget would be financed through getting of N253 billion. According to the Debt Management Office, DMO, Lagos’ total debt as at June 2021 is put atN507.377 billion.

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