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Sanwo-Olu targets economic growth, others through N1.163trn 2021 budget

By News Desk,

The Lagos State Governor, Babajide Sanwo-Olu has signed the N1.163 trillion 2021 appropriation bill into law with a promise to implement the budget towards achieving economic growth and forge a path for the state’s genuine rebuilding after disruptions occasioned by coronavirus outbreak and EndSARS protest.

He indicated that his administration would kickstart 2021 with strong will and high determination to rebuild lost assets of the state, advance its economic growth, and expand opportunities for residents to flourish despite the economic challenges caused by the disastrous events.

Sanwo-Olu signed the financial document into law on Thursday at a simple ceremony held at the State House in Marina, ushering Lagos residents into the New Year with reassuring hopes and heightened expectations.

The Governor assented to the bill, christened ”Budget of Rekindled Hope”, at the event attended by cabinet members, Assembly members, and chairman of the House Committee on Finance, Hon. Rotimi Olowo, who also represented the Speaker, Rt. Hon. Mudashiru Obasa.

Describing the past year as peculiar, the governor said that the economic paralysis caused by COVID-19 pandemic and destruction occasioned by the hijacked EndSARS protests drew Lagos’ development back in no small measures.

Significant parts of the State’s 2021 spending, Sanwo-Olu said, are committed to human capital development, youth engagement, social intervention initiatives, while chunk of the spendings is reserved for the completion of ongoing projects critical to achieving the objectives of his administration’s T.H.E.M.E.S agenda.

He said: “With the enormous challenges of the outgoing year, we are conscious of the fact that in order to efficiently and successfully implement the 2021 Budget, we must be selfless and dedicated. We are up to the task; with our collective resilience, we will achieve our key goals in all sectors, and nothing will stop us from justifying the trust of the people in this Government.

“I assure you that the 2021 budget will be prudently implemented with the people as our focus, as we are determined to provide the right economic environment for Lagosians to thrive. As the world combats COVID-19, we will make the necessary sacrifices to further place our State on the path of abundance and economic recovery. We are going into 2021 with the unwavering determination to engender sustainable and inclusive growth,” he said.

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