By Our Reporter
Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438
(Four Trillion, Four hundred and Forty Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty Eight naira) for the 2026 fiscal year.
The 40-member parliament granted the approval on Thursday during a plenary session, presided over by the Speaker, Rt. Hon. Mudashiru Obasa, following the presentation of a comprehensive report by the Chairman, House Committee on Economic Planning and Budget, Hon. Sa’ad Olumoh.
The session saw lawmakers adopted the report through a voice vote, signaling a unanimous support for the financial plan aimed at driving sustainable development across the state.
The 2026 budget prioritises Infrastructure Development, Education, Healthcare, Economic Growth, and Social Welfare, with over 52% allocated to Capital Projects, underscoring the government’s commitment to inclusive growth and improved quality of life for residents of Lagos State.
Speaker Obasa, following the passage, directed the Clerk of the House, Olalekan Onafeko, to transmit a clean copy of the approved Bill to Governor Babajide Sanwo-Olu for assent.
Obasa commended members of the Assembly for their diligence and collaborative efforts in ensuring the timely passage of the budget.
It will be recalled that Governor Sanwo-Olu had presented a budget proposal of ₦4.23 trillion to the House on November 25, 2025, which he termed: "Budget of Shared Prosperity," declaring then that the budget reflected Lagos State’s vision to strengthen its position as a leading economic hub in Africa through robust investments in critical sectors that fostered growth, innovation, and social progress.
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