Sanwo-Olu Assents to ₦4.4tn Lagos 2026 Budget, Pledges Responsible Implementation

Lagos State Governor Babajide Sanwo-Olu on Monday signed the ₦4.4 trillion 2026 Appropriation Bill into law, assuring residents that the budget would be implemented responsibly and inclusively.

The Lagos State House of Assembly had earlier passed the Appropriation Bill, tagged the “Budget of Shared Prosperity,” after extensive deliberations, before forwarding it to the governor for assent.

Sanwo-Olu had initially presented a ₦4.237 trillion budget proposal to the House on November 25 for the 2026 fiscal year, representing a significant increase from the ₦3.366 trillion approved for 2025. Following legislative review, the Assembly approved an increased total of ₦4,444,509,776,438 on January 8, 2026.

Presenting the report during plenary, the Chairman of the House Committee on Economic Planning and Budget, Sa’ad Olumoh, disclosed that ₦2.106 trillion was allocated for recurrent expenditure, while ₦2.337 trillion was earmarked for capital projects for the year ending December 31, 2026.

Speaker of the House, Mudashiru Obasa, assured Lagosians that lawmakers would remain firm in their oversight duties to ensure prudent and effective implementation of the budget.

The approved estimates show that over 52 per cent of total expenditure is dedicated to capital projects, underscoring the government’s focus on infrastructure development, education, healthcare, economic growth and social development.

Speaking after signing the bill at the State House, Alausa, Ikeja, Sanwo-Olu thanked the lawmakers and welcomed the slight increase made by the Assembly.

“You will notice that there is a slight increase from what we put forward, but that goes to show that the independence that you have, and the fact that you believe that Lagosians actually also deserve more,” the governor said.

He described the document as a truly inclusive budget, adding: “Sharing prosperity means that it’s an inclusive government, a budget that must carry everybody along… you must feel governance, you must feel the essence of why we’re in government in one form or the other.”

Sanwo-Olu assured residents that investments in roads, schools, healthcare, security and economic interventions would ensure that the benefits of governance are felt across all parts of the state.

Represented by the Majority Leader, Adams Nojeem, Obasa reiterated that committees of the House had thoroughly scrutinised the budget to reflect the realities of modern Lagos.

Meanwhile, the Commissioner for Economic Planning and Budget, Opeyemi George, said the budget assent provided a clear framework for Lagos’ 2026 fiscal direction.

“This budget reflects deliberate planning and strengthens the foundations for a more resilient, competitive and people-centred Lagos,” George said, noting that the revised ₦4.444 trillion size represents “a bold yet disciplined fiscal response to prevailing economic realities.”

With the governor’s assent, full implementation of the 2026 fiscal plan is expected to begin immediately.

Opinion Nigeria News