Governor Babajide Sanwo-Olu has signed the 2026 Appropriation Bill into law, authorizing a record-breaking N4.444 trillion “Budget of Shared Prosperity.”
The signing ceremony, held at the State House in Alausa yesterday, marks a decisive step in the administration’s drive to foster inclusive growth and fortify Lagos as a globally competitive mega-city.
The budget, which was passed by the Lagos State House of Assembly on January 8, reflects a marginal upward review from the initial N4.2 trillion proposal.
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Sanwo-Olu praised the legislature’s A-grade scrutiny, noting that the increase demonstrates a shared belief that Lagosians deserve even more robust governance impacts.
The 2026 budget maintains a disciplined focus on long-term development, directing the majority of its funds towards building a more resilient infrastructure network.
Out of the total budget, N2.337 trillion, or 53%, is allocated to capital expenditure, while N2.107 trillion, representing 47%, is earmarked for recurrent expenditure.
Sanwo-Olu highlighted that the budget is predicated on an inclusive approach, designed to touch lives from the busiest markets in Lagos Island to the coastal communities of Ebute Metta.
He outlined key strategic pillars to drive development across the state.
In infrastructure and transport, there is a strategic focus on renewing existing infrastructure, expanding transportation networks—including rail systems and link bridges—and implementing smart city solutions.
In education and health, he plans massive investments in building new schools and healthcare facilities to enhance the overall quality of life.
For security, funding will be increased to ensure Lagos remains a safe haven for residents, businesses, and investors.
In agriculture and MSMEs, Sanwo-Olu aims to support small businesses and agricultural development to boost productivity and create jobs.
“Our residents will feel the touch and impact of governance across areas of our priorities,” Sanwo-Olu stated. “We will put up our A-grade in order to ensure accountability and value for money.”
Amidst the celebration, the governor issued a stern warning against the indiscriminate dumping of waste, describing current practices as “completely unacceptable.”
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He announced that the state would double the capacity of the Lagos State Waste Management Authority (LAWMA) and private waste collectors while urging residents to protect their environment.
The Speaker of the House, Mudashiru Obasa, represented by Majority Leader, Noheem Adams, expressed full confidence in the Executive’s ability to implement the budget to the letter.
Commissioner for Economic Planning and Budget, Ope George, added that the solid 81% performance recorded in the 2025 budget provides a credible foundation for the 2026 fiscal year.
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