Lagos Assembly Okays ₦4.4trn Budget For 2026 Fiscal Year

The Lagos State House of Assembly has approved a total of ₦4.4 trillion as the state’s budget for the 2026 fiscal year.

The Speaker of the House, Mudashiru Obasa, presided over the House plenary on Thursday, where the 2026 appropriation bill was passed into law, authorising the issuance and spending of ₦4,444,509,776,438.

Earlier, presenting the report on the budget, chairman of the House Committee on Economic Planning and Budget, Olumoh Sa’ad, said the approved budget comprised ₦2,106,704,566,113 for recurrent expenditure and ₦2,337,805,210,325 for capital expenditure for the year ending December 31, 2026.

Following the passage, Obasa directed the Clerk of the House, Olalekan Onafeko, to transmit a clean copy of the budget to Governor Babajide Sanwo-Olu for assent.

Governor Sanwo-Olu had earlier on November 25, 2025 presented a proposed ₦4.237 trillion budget to the Assembly, tagged the “Budget of Shared Prosperity”, for consideration and approval.

Addressing lawmakers, the governor said the proposed budget was aimed at promoting inclusive growth and improving the welfare of residents across the state.

“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” Sanwo-Olu said.

He explained that the spending plan was anchored on four pillars— a human-centred approach, modern infrastructure, a thriving economy, and effective governance— in line with the state’s T.H.E.M.E.S+ Agenda.