Nigeria, Nov. 8 -- Governor Babajide Sanwo-Olu, on Friday, presented the Year 2020 Budget proposal to the House of Assembly, unveiling his administration's plan to accelerate the growth of the state's economy by proposing investments in critical areas of priorities - physical infrastructure, environment, human capital and security.

Mr Sanwo-Olu said the state would be spending N1.168 trillion, which will be funded from a projected Internally Generated Revenue (IGR) of N1.071 trillion. The budget deficit, put at N97.53billion, will be financed through internal and external loans, the governor said.

Besides, the fiscal proposal also included a provision for the new minimum wage.

The proposed 2020 budget is a nearly 40 per cent increase f...