Sanwo-Olu Presents N4.2trn 2026 Budget To Lagos Assembly

Lagos State Governor, Babajide Sanwo-Olu, on Tuesday, presented a N4.237 trillion budget estimate for the 2026 fiscal year to the state’s House of Assembly for consideration and approval.

Governor Sanwo-Olu stated that the new budget, also themed “Budget of Sustainability,” is designed as a roadmap for continuity, resilience, and shared prosperity for Lagos residents.

According to him, the budget is structured around five key pillars, comprising infrastructure sustainability, economic diversification and institutional reforms.

The presentation was presided over by the Speaker of the House, Mudashiru Obasa, in the presence of the Deputy Governor, Dr. Femi Hamzat, members of the executive council, lawmakers, and other dignitaries.

Others present included members of the state executive council, local government officials, traditional rulers and other guests.

Sanwo-Olu began his presentation of the budget, tagged “Budget of Shared Prosperity,” at about 1:25 p.m., affirming that the administration’s mission remains clear, to eradicate poverty and build a Lagos that works for all.

The N4.2trn proposal represents a quantum leap in Lagos’ annual spending plan, reflecting growth of over N3trn in five years.

Available statistics on the state’s Budget records showed that the state’s appropriation has risen from N1.1trn in 2021 to the N4.2trn now proposed for 2026 — an increase of N3.074trn under Sanwo-Olu’s administration.

The budget rose to N1.75trn in 2022, N1.76trn in 2023, and N2.26trn in 2024. By 2025, Lagos surpassed the N3trn mark with a N3.366trn budget ahead of the latest N4.237trn proposal.

Sanwo-Olu explained that the new budget “is reaffirming of our collective belief that Lagos can continue to rise,” adding that the proposal builds on existing development foundations and restated his commitment to completing ongoing projects.