By Olasunkanmi Akoni

Lagos State Governor, Mr. Bababjide Sanwo-Olu, is to present Year 2022 Appropriation Bill before members of the State House of Assembly on Wednesday, November 17, 2021, at Alausa, Ikeja.

Sanwo-Olu, is scheduled to present the budget estimates before the lawmakers for consideration and approval in line with provisions of the constitution

The event is expected to kick off by 11.am, at the state Assembly Complex, Alausa, Ikeja, with members of the state executive council in attendance.

Though, the details of the year 2022 was still skecthy as of press time, a source confided in Vanguard that the 2022 budget estimates is higher than that of the outgoing year, 2021 of N1.163 trillion.

Recall that the governor, had on November 10, 2020, presented Year 2021 budget estimates of ₦1.155 trillion, christened: Budget of Rekindled Hope,” to be funded through projected total revenue of ₦962,528 billion before members of the state House of Assembly.

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Instructively, the state House of Assembly, subsequently, in its considerations increased the budget size to N1.163 trillion.

The budget has a Capital Expenditure of N702.9billion and a Recurrent Expenditure of N460.6billion which stands at a ratio of 60 to 40 per cent.

Sanwo-Olu, later, signed the year 2021 budget into law on December 31, 2020.

Speaking at the presentation of the 2021 Budget, Sanwo-Olu sair it was intended to reflect the determination to rise above the challenges that had affected the development indices in the last 10 months, ocassioned by COVID-19 pandemic challenges.

“As well as demonstrate the willingness to overcome all obstacles and deliver all electoral promises to Lagosians; stating that the Y2021 budget will reflect the continued execution of the THEMES,” the governor stated.

Vanguard News Nigeria