.Says ‘ll be responsibly implemented
By Olasunkanmi Akoni
Lagos State Governor, Babajide Sanwo-Olu, Monday, signed a total of ₦4.4trn 2026 Appropriation Bill into law, with the promise that it would be responsibly implemented in the interest of residents.
The State House of Assembly had earlier passed Appropriation Bill, tagged; “Budget of Shared Prosperity,” for governor’s assent into law, following extensive deliberations.
Recall that Sanwo-Olu, had on November 25, presented a total budget proposal of ₦4.237 trillion, tagged, ‘Budget of shared prosperity.’ for the 2026 fiscal year, marking a significant rise from the ₦3.366 trillion approved for 2025.
Subsequently, the State House of Assembly, had on January 8, 2026, passed a total of ₦4,444,509,776,438. as the 2026 budget for governor’s assent.
The House presided over by the Speaker, Mudashiru Obasa, during a plenary authorized the passage of the bill for a law for governor’s assent.
Presenting the report on the floor of the House, the Chairman of the Committee on Economic Planning and Budget, Sa’ad Olumoh, announced that the total budget size for the 2026 fiscal year is ₦4,444,509,776,438, with ₦2,106,704,566,113 earmarked for recurrent expenditure and ₦2,337,805,210,325 for capital expenditure for the year ending December 31, 2026.
Obasa, however, assured residents that the House would not relent in its oversight responsibilities to guarantee prudent implementation of the budget.
Instructively, the budget places priority on infrastructure development, education, healthcare, economic growth and social development in line with the state government’s commitment to inclusive and sustainable growth.A breakdown of the approved estimates showed over 52 per cent of the total expenditure been earmarked for capital projects, signalling a strong focus on long-term development and expansion of critical infrastructure across the state.Following the governor’s assent, the full implementation of the 2026 fiscal plan is expected to commence in earnest.
Speaking shortly after signing the budget on Monday, held at the State House, Alausa, Ikeja, Sanwo-Olu assured that the budget would be responsibly implemented in the interest of residents.
While acknowledging an increase in the budget passed by the House, Sanwo-Olu expressed satisfaction, saying it showed members of the Assembly believed Lagos residents deserved more.
According to the governor, “On behalf of the people and the government of Lagos State, let me thank the House of Assembly. This is a budget that you have had your full input into, you have scrutinized, you have dissected, and you have taken your time to do the very constitutional provision, which is enshrined in our constitution. I want to thank you for the work you have done.
“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, and the fact that you believe that we also can do more. So we’re excited and we’re happy with the way that you have brought it forward here to us.
“For us in the executive, it is another opportunity for us to be able to work together. It is a budget of shared prosperity that has been properly christened, and sharing prosperity means that it’s an inclusive government, it’s a budget that must carry everybody along irrespective of what part of the state, what division in the state, what sector you are from you must feel governance, you must feel the essence of why we’re in government in one form or the other.
“If it’s on the road, that will be on the road. If it’s on the schools that we’re going to build, if it’s on the health facility we’re going to build, if it’s on the various industries and engagement we’re going to have, if it is on the various interventions that we will do to enhance and to improve the quality of lives. If it is for the security that we will provide to ensure that security of life and property is enshrined. These are ways in which the prosperity of every Lagosians will be felt in this budget in one form or the other.
“I want to assure you that the this budget will be implemented responsibly so that Lagosians will feel the benefits.”
Also speaking, Obasa who was represented by the Majority Leader, Adams Nojeem, said, “I recall that Mr. Speaker has directed all committees in the State House of Assembly to scrutinize this project properly so that it can reflect the reality of today’s Lagos.”
The Commissioner for Economic Planning and Budget, Opeyemi George said, “The budget assent provides us the opportunity to clearly articulate the intent, direction, and delivery framework for the year 2026 budget of Lagos State.
“This budget reflects deliberate planning and it strengthens the foundations for a more resilient, competitive, and people-centered Lagos, one that is equipped to address present challenges while positioning for future growth.
“With a total proposed size of N4.2 trillion, which was reviewed upwards likely to N4.444 trillion by the Lagos State House of Assembly after legislative scrutiny and committee engagements with ministries, departments, and agencies, the year 2026 budget represents a bold yet disciplined fiscal response to prevailing economic realities.
“The administration is prioritizing economic affairs with deliberate emphasis on infrastructure renewal, transportation expansion, agricultural development, and other growth-enhancing activities that stimulate business and economic development.”
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