The Lagos State Governor, Babajide Sanwo-Olu, presented a proposed budget of N4.237 trillion for the 2026 fiscal year to the Lagos State House of Assembly on Tuesday. The session was marked by heightened security, with officers from the Nigeria Police Force, the Nigeria Security and Civil Defence Corps, and the Lagos State Neighbourhood Safety Corps positioned at all key entry points of the Assembly complex.
The budget presentation, tagged “Budget of Shared Prosperity,” was witnessed by members of the state executive council, local government officials, traditional rulers, and other invited guests. Speaker Mudashiru Obasa presided over the session, which commenced around 1.25 p.m.
In his address to the 40-member House, Governor Sanwo-Olu emphasized that the 2026 budget was structured to ensure prosperity reaches every resident of Lagos. “Our mission remains clear, to eradicate poverty and build a Lagos that works for all,” he said. The governor highlighted four key pillars guiding the budget: a human-centred approach, modern infrastructure, a thriving economy, and good governance.
If approved, the N4.2 trillion proposal would mark a significant growth in the state’s yearly expenditure, representing a rise of over N3 trillion in five years. Records indicate that Lagos’ appropriation has grown steadily under Sanwo-Olu, moving from N1.1 trillion in 2021 to the current proposed figure of N4.237 trillion. The budget rose to N1.75 trillion in 2022, N1.76 trillion in 2023, and N2.26 trillion in 2024. In 2025, Lagos surpassed N3 trillion with a budget of N3.366 trillion.
Governor Sanwo-Olu reaffirmed his administration’s commitment to continuing development projects and building on the foundations laid in previous years. “We remain determined to complete all ongoing projects,” he added.
Okay News reports that the presentation reflects Lagos State’s dedication to inclusive growth and sustainable development, ensuring that public resources benefit all citizens.
