Sanwo-Olu Signs Record ₦4.44trn Lagos Budget Into Law
Governor Babajide Sanwo-Olu has signed into law Lagos State’s ₦4.44 trillion Appropriation Bill for 2026, describing it as a “Budget of Shared Prosperity” designed to drive inclusive growth and improve the quality of life for residents.
The budget, initially proposed at about ₦4.2 trillion, was reviewed upward by the Lagos State House of Assembly after legislative scrutiny and engagement with ministries, departments, and agencies. The signing ceremony at the State House in Ikeja was witnessed by Deputy Governor Dr Obafemi Hamzat and lawmakers led by Majority Leader Nojim Adams.
Sanwo-Olu commended the Assembly for its oversight, noting that the increase reflected confidence in the state’s capacity to deliver more despite prevailing economic challenges.
“This budget is designed to carry every resident along, regardless of location or sector, through investments in roads, schools, healthcare facilities, security, housing, and economic interventions,” he said.
The expenditure framework allocates ₦2.3 trillion to capital projects (53%) and ₦2.1 trillion to recurrent spending (47%), underscoring a policy decision to sustain infrastructure investment while ensuring efficient delivery of public services.
Commissioner for Economic Planning and Budget, Ope George, said priority areas include transportation, agriculture, infrastructure renewal, health, education, environmental sustainability, housing, public safety, and social protection.
George added that the 2026 fiscal plan builds on the strong performance of the 2025 budget, which had achieved 81 per cent implementation as of September 30.
Speaker of the House, Hon. Mudashiru Obasa, represented by Majority Leader Nojim Bello, praised the administration’s commitment to the THEMES Plus agenda. “Lagos State remains a reference for good governance, and the Assembly is committed to working with the executive to reach greater heights,” he said.
Sanwo-Olu emphasised that prosperity would be felt through infrastructure development, social services, job creation, and enhanced security, positioning the record ₦4.44 trillion budget as a renewed opportunity to deliver effective governance in Africa’s largest city economy.
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