Governor Babajide Sanwo-Olu has presented the 2026 Budget Estimates to the Lagos State House of Assembly.
The proposed budget, which the governor termed the “Budget of Shared Prosperity,” totals ₦4.237 trillion.
Presenting the budget on Tuesday, Sanwo-Olu noted the significance of the budget.
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He stated that it represents the final full-year budget of his administration, reflecting on past achievements and the future vision for the state.
The proposed spending plan is supported by a projected revenue of ₦3.994 trillion, resulting in a financing gap of ₦243.33 billion, which the administration plans to manage responsibly.
The total budget allocation stands at ₦4.237 trillion.
Of this amount, ₦2.185 trillion is earmarked for capital projects, while ₦2.052 trillion is allocated to recurrent expenditure.
The recurrent expenditure covers the everyday running of the state and its financial obligations.
The allocation for capital projects signifies the budget’s focus on infrastructure development.
The governor stated that the core objective of the budget is to “make life better for Lagosians.”
The plan centers on deepening access to essential services, strengthening the state’s systems, completing critical infrastructure and ensuring that the benefits of the prosperity agenda reach more people across the state.
Sanwo-Olu affirmed that the progress made in 2025 across sectors such as education, healthcare, transportation, housing, technology, the environment, and public safety forms the foundation of the new budget.
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The governor reaffirmed his commitment for the final full year of his tenure “to keep Lagos secure, to keep Lagos working, and to ensure that growth and prosperity touch every resident.”
He thanked the House of Assembly, the civil service, and the people of Lagos for their support.
