Sanwo-Olu presents 2025 budget as Obasa clears the air on aspiration for Governorship race

The Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, on Thursday, said he had not given serious thought to becoming the next governor of the state, as was already being speculated.

Obasa said his major concern has been to strengthen the party in the state adding that this is why he continues to minimise more people to support the party at all times, an act which has been misconstrued by ‘political detractors’ to mean that he was chasing a governorship ambition.

The Speaker said this in his remarks shortly after Governor Babajide Sanwo-Olu presented the state’s 2025 budget size of N3,005,935,198,401.

Earlier, a vote of confidence was passed on the Speaker by all the lawmakers present at plenary.

Sanwo-Olu had said the budget comprised a total revenue of N2,597,034,000,000 and a deficit financing of N408,902,000,000.

The ‘Budget of Sustainability’ which is made of recurrent expenditure of N1.239 trillion (41%) and capital expenditure of N1.766 trillion (59%), is also to be sourced from a total revenue of N1,970,897,000,000 and total Federal transfers  N626,137,000,000.

Reacting, Speaker Obasa noted that the budget was presented at a time of complaints by Nigerians about the economy. He, however, appealed to Nigerians to be hopeful as President Bola Tinubu’s administration works to ensure the nation’s economic recovery.

He added: “I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish  aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.

“To the blackmailers who have embarked on the mission to distort and redefine our mission, let me state it unequivocally here, we intend to promote our party on the platform of Mandate.

“Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better off.”

Read the Speaker’s full remarks below:

Distinguished guests, it is my great pleasure to welcome you all to yet another budget presentation by Governor Babajide Olusola Sanwo-Olu. Today marks another significant milestone for our dear State in the pursuit and realisation of remarkable economic transformation, infrastructural renewal and development towards a greater Lagos. The Y2025 budget proposal themed “Budget of Sustainability”, which is above the N 2.3 trillion presented by Mr Governor last year, is a confirmation of our commitment to sustainable development and economic growth.

2. Ladies and gentlemen,

This presentation is coming at a time when we all face the reality of daunting economic challenges. We recognise the current economic upheaval, but we are confident that our strategic plans will stimulate growth, attract investments, and improve the standard of living for all Lagosians. Also, the renewed hope of President Bola Ahmed Tinubu, GCFR, is focused on the futuristic plan for the nation’s economic recovery, which is indeed certain and realisable. As such, I appeal to our people to keep the hope alive. There is, no doubt, a light at the end of the tunnel for us as a nation!

3. Esteemed guests,

It is on the record that this honourable House has always been in support of the present administration, particularly the Governor in everything. There has never been a request from Mr Governor that this House has ever denied.

4. That being said, it is necessary to harp on the fact that under democracy, this arm of government remains independent. This House, of course, recognizes this and will always be so, even though we work hand-in-hand with other arms of government. It is also important to state here that this House is a sanctuary and temple, just like every other temple anywhere where we all worship. No one will violate any temple and expect the gods to accept his or her sacrifice. And if such happens, there must be an appease to the gods to accept such atonement. No amount of intimidation or coercion will disintegrate or change the belief of all the members of this institution!

5. Today, we want to assure Mr Governor that this honourable House will look at the budget and do the necessary scrutiny as usual. But it should be noted that this institution remains resolute. We will never be disgraced, abused or ridiculed in the name of creating a seamless working ambiance.

6. Let me also emphasise that those who live in glass houses must not throw stones as the saying goes. This also brings to my mind, according to our people: eni ba yara logun ngbe. Meaning, the god of iron recognises the swift ones. In other words, those who are facilitating or planning to interfere in this House or destroy the cohesion of this institution should also be prepared for the same fate.

7. Ladies and gentlemen,

May I use this medium to sensitise us more on the need to build and sustain our party, the All Progressives Congress (APC) regarding our focus for 2027. We need to continue to mobilise people just as I do frequently. I have made it a personal task to mobilise people on the platform of Mandate, which has been misconstrued by some political detractors as being a selfish aspiration on the ground for me to become governor of the state. There is the need, however, to correct this wrong impression. My concern is about building our party, and whatever we do is mainly for this cause.

8. To the blackmailers who have embarked on the mission to distort and redefine our mission, let me state it unequivocally here, our intention is to promote our party on the platform of Mandate. Also, becoming governor is secondary; it is something that I have not given serious consideration. Nevertheless, that does not mean I am too young or lack experience to run; whereas, those who have been before me are not better of.

9. In addition, it is also important to correct the impression from some naysayers who have been insinuating that I made payment to seek blood relations in Ojo to validate my candidacy to run as governor. Of course, I have never denied the fact that I am OBASA. Rather, I have never claimed to be related to Onikoyi, Oniru, or any of the other popular Lagos families as the case may be. I can indeed never run from the fact that I am related to my Obasa family in Ojo. But I do not need local validity to contest or run. If eventually I am contesting, I will do so from Agege!

10. Nonetheless, we want to thank Mr Governor for doing the needful, constitutionally, by presenting the budget. You can rest assured that this House will also respect its constitutional right to address the budget and get back to you.

11. Distinguished guests,

As we hope that the Y2025 Budget will be of great benefit to the people of Lagos State, we, however, appeal to Mr Governor and Lagosians to give us sufficient time to enable the House to do a thorough job on a financial document that has a great influence on the lives of the people. The Assembly would not delay the passage of the budget, but we will be interested in placing a high premium on the need to ensure that the interests of Lagosians are protected socio-economically and politically. We are your representatives here at the House of Assembly, and we are duty-bound to do justice to every sector of the state’s economy.

12. At the same time, I want to thank my colleagues for standing on the side of the people at all times. I appreciate your efforts, I cherish your support, which has always been an inspiration and source of strength for me. I commend your courage and perseverance. We will remain united, focused and determined until our expectations are realised.

13. My sincere commendation also goes to the Clerk of the House and the entire staff and management for performing their responsibilities with a sense of patriotism and loyalty. I thank everybody here in this hallowed chamber and all Lagosians for your support and resilience and we appreciate the fact that you are not giving up on us. We will not let you down. We will take you to the promised land: it is a mandate we cannot but fulfil.

Once again, I thank you all for coming and wish us a fruitful Y2025.