Lagos State Unveils N3.37 Trillion ‘Budget of Sustainability’ for 2025
By DAYO ADESULU
Focus on Infrastructure, Environmental Protection & Economic Growth
Lagos, Nigeria – February 7, 2025 – The Lagos State Government has unveiled a N3.37 trillion budget for 2025, tagged the “Budget of Sustainability.” The budget prioritizes infrastructure development, environmental protection, and economic self-sustainability.
Key Highlights of the 2025 Budget:
Total Budget: N3.367 trillion Internally Generated Revenue (IGR): N2.230 trillion Capital Receipts: N111.839 billion Federal Transfers: N626.137 billion
80% of the Budget Funded Internally
Speaking at the budget breakdown press conference in Alausa, Ikeja, the Commissioner for Economic Planning and Budget, Mr. Ope George, emphasized that 80% of the budget will be self-financed, reducing dependency on external borrowing.
“The state has carefully chosen a self-financing option that will not translate into excessive debt for the full implementation of the budget.” – Ope George
He urged Lagos residents to support the government by paying their taxes, as the Lagos Internal Revenue Service (LIRS) is expected to contribute 63% (N1.4 trillion) of the projected IGR.
Massive Investment in Infrastructure – N1.052 Trillion Allocated
31.27% of the budget (N1.052 trillion) is allocated to infrastructure sustainability, covering:
Road construction & rehabilitation Development of bus terminals, jetties, & bridges Expansion of the Lagos Rail Mass Transit System New housing units & digital infrastructure
“Our focus remains on maintaining, upgrading, and expanding existing road networks and infrastructure, in line with our vision for a truly 21st-century megacity.” – Ope George
Lagosians can expect improved public transportation, better roads, and enhanced connectivity across the state’s five divisions.
Environmental Protection Takes Center Stage – N287 Billion Allocated
The Lagos State Government has earmarked N287.241 billion (8.5% of the budget) for environmental sustainability projects.
Key Environmental Initiatives Include:
Drainage infrastructure development
Waste-to-energy projects
Creation of recreational spaces
“The implementation of waste-to-energy projects, collaboration with the private sector on waste management, and the transformation of public spaces into secure recreational areas remain key priorities.” – Ope George
This aligns with Lagos State’s commitment to tackling waste management challenges, reducing carbon emissions, and promoting green urban development.
Debt Management & Creative Financing Strategies
Addressing concerns about borrowing, the Commissioner for Finance, Mr. Abayomi Oluyomi, reassured Lagosians that: Only 10% of the budget relies on borrowing The government is exploring creative financing options Efforts are ongoing to improve the business environment to attract more investments
Lagos State’s Vision for a Sustainable Future
Describing the 2025 budget as a roadmap for long-term sustainability, George emphasized that it is designed to: Ensure economic stability Promote environmental stewardship Advance social equity
“This budget is more than just a fiscal document. It is structured to ensure **Lagos continues to thrive sustainably for generations to come.” – Ope George
What’s Next?
Government agencies will begin full-scale implementation of projects outlined in the budget. Lagos residents are encouraged to support revenue generation efforts by paying their taxes. More updates will follow on major infrastructure projects and environmental initiatives.
Do you think this budget will transform Lagos? Drop your thoughts in the comments! 
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