Lagos State Governor, Babajide Sanwo-Olu, has signed the ₦4.44 trillion 2026 Appropriation Bill into law, describing it as a “Budget of Shared Prosperity” focused on inclusive growth and improved living standards for residents.
The budget signing took place on Monday at the State House in Ikeja, with the Deputy Governor, Dr Obafemi Hamzat, and members of the Lagos State House of Assembly in attendance.
Sanwo-Olu commended the lawmakers for their detailed scrutiny and legislative oversight, which led to an upward review of the budget from the initial ₦4.2 trillion proposal. He said the increase reflects confidence in the state’s capacity to deliver more despite current economic challenges.
According to the governor, the 2026 budget prioritises investments in roads, education, healthcare, security, housing, and economic interventions to ensure no community is left behind. He added that the fiscal plan aims to drive infrastructure development, job creation, social services delivery, and enhanced security across the state.
Commissioner for Economic Planning and Budget, Mr Ope George, explained that the budget allocates ₦2.3 trillion (53%) to capital expenditure and ₦2.1 trillion (47%) to recurrent spending, underscoring the government’s commitment to infrastructure development and efficient public service delivery.
Speaker of the House of Assembly, Mudashiru Obasa, represented by Majority Leader Nojim Bello, praised the administration for its dedication to good governance and reaffirmed the legislature’s support for the THEMES+ agenda to achieve a greater Lagos.
