By Our Reporter
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday signed the ₦4.44 trillion 2026 Appropriation Bill into law, describing it as a "Budget of Shared Prosperity" designed to drive inclusive growth and improve the quality of life of Lagos residents.
Speaking at the event which took place at Lagos House, and witnessed by the Deputy Governor, Dr. Kadir Obafemi Hamzat, and members of the Lagos State House of Assembly, led by the Majority Leader, Hon. Nojim Adams, among others, Governor Sanwo-Olu commended the House of Assembly for its thorough scrutiny and independent legislative oversight, which resulted in a marginal upward review of the budget size.
The governor noted that the increase reflected the lawmakers’ confidence in the state’s capacity to deliver more for residents despite prevailing economic challenges.
According to him, the 2026 Budget is structured to ensure that no resident or sector is left behind, with significant investments planned in roads, schools, healthcare facilities, security, housing and key economic interventions.
Sanwo-Olu described the budget as a renewed opportunity for the executive arm to deepen effective governance, assuring that prosperity would be experienced through infrastructure development, enhanced social services, job creation and improved security of lives and property.
The State Commissioner for Economic Planning and Budget, Mr. Ope George, earlier in his remark, explained that the budget clearly outlined the administration’s intent, direction and delivery framework for 2026.
George said the proposal was initially pegged at about ₦4.2 trillion but was reviewed upward to ₦4.4 trillion following engagements between the legislature and Ministries, Departments and Agencies (MDAs).
The commissioner disclosed that the expenditure framework comprises ₦2.3 trillion for capital expenditure, representing 53 per cent of the total budget, and ₦2.1 trillion for recurrent expenditure, accounting for 47 per cent.
George said the structure underscored the government’s commitment to sustaining infrastructure development while ensuring efficient delivery of essential public services.
According to him, priority sectors for the 2026 fiscal year include transportation, agriculture, infrastructure renewal, health, education, environmental sustainability, housing, public safety and social protection, noting that the 81 per cent performance level recorded for the 2025 Budget as of September 30 provided a strong foundation for the effective implementation of the 2026 Budget.
Speaker of the Lagos State House of Assembly, Hon. Mudashiru Obasa, represented by Majority Leader Hon. Bello, praised Governor Sanwo-Olu and his cabinet for their commitment to the THEMES Plus agenda.
Obasa reaffirmed the Assembly’s readiness to continue working with the Sanwo-Olu administration to achieve a greater Lagos and strengthen the state’s reputation as a model of good governance.
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