Lagos State Government said it has earmarked N1.052 trillion for infrastructural development and sustainability in its 2025 budget.

Speaking during the breakdown of the budget at a press briefing held at Alausa, Ikeja on Friday, the Commissioner for Economic Planning and Budget, Mr. Ope George, said the amount earmarked was in line with Governor Babajide Sanwo-Olu’s administration’s plan to complete ongoing projects in different parts of the State.

George addressed the press in the company of his colleagues, Mr Gbenga Omotoso (Information and Strategy); Mr. Abayomi Oluyomi (Finance); Prof. Akin Abayomi (Health); Mr. Tokunbo Wahab (Environment and Water Resources); Mr. Oluwaseun Osiyemi (Transport); Mr. Tunbosun Alake (Innovation, Science and Technology); Mr. Biodun Ogunleye (Energy and Mineral Resources); Mr. Jamiu Alli-Balogun (Basic Education) and Mr. Tolani Akibu (Tertiary Education), as well as the Special Adviser to the Governor on Works, Dr. Adeyinka Olayinka, and his counterparts, Engr. Olufemi Daramola (Infrastructure) and Dr. Rotimi Fashola (Agriculture).

George also disclosed that the ₦3.367trillion budgeted by the state government will be funded from a total revenue estimate of ₦2.968 trillion, comprising N2.230 trillion from Internally Generated Revenue (IGR), Capital Receipts of N111.839 billion and federal transfer of N626.137 billion.

 He said the Lagos State Internal Revenue Service (LIRS) is expected to contribute 63 percent (N1.4 trillion) of the projected IGR, while other ministries, departments, and agencies (MDAs) of government will generate about 37 percent (N830.177billion).

He said 80 percent of revenue will be generated internally to finance the 2025 budget implementation, noting that the State Government will achieve budget sustainability by deepening revenue and increasing the tax net through the deployment of technology, economic intelligence, data gathering, and analysis, among other initiatives.

He said the budget tagged” “Budget of Sustainability” is not just a fiscal document but structured around providing economic stability, environmental stewardship, and social equity to ensure Lagos continues to thrive sustainably for generations to come.