Lagos State Governor Babajide Sanwo-Olu has signed the ₦3.37 trillion “Budget of Sustainability” into law, aiming to empower small and medium enterprises (SMEs) through enhanced infrastructure, innovation, and economic reforms.
With ₦2.07 trillion dedicated to capital projects, the budget prioritizes transportation, housing, and digital infrastructure, creating a conducive environment for small businesses. The remaining ₦1.30 trillion recurrent expenditure will support essential services in education, healthcare, and security, indirectly benefiting SMEs.
Governor Sanwo-Olu highlighted the budget’s focus on entrepreneurs, stating, “This financial plan is about building a Greater Lagos where small businesses can thrive and contribute to sustainable development.”
Strategic investments under this budget position Lagos as a hub for SME-driven economic growth in 2025.
