Lagos: Sanwo-Olu signs ₦4.44trn 2026 budget into law

Lagos State Governor, Babajide Sanwo-Olu, on Monday signed the 2026 Appropriation Bill of ₦4.44 trillion into law.

The governor signed the budget, tagged “Budget of Shared Prosperity”, at the Conference Room of Lagos House, Ikeja.

The Lagos State House of Assembly had earlier passed the state’s 2026 budget into law on January 8.

During plenary, the Chairman of the House Committee on Economic Planning and Budget presented the committee’s report to lawmakers.

Presenting the breakdown, Olumoh said ₦2.1 trillion was approved for recurrent expenditure, while ₦2.33 trillion was allocated for capital expenditure for the year ending December 31, 2026.

Daily Trust reports that the Deputy Governor, Obafemi Hamzat, members of the state cabinet and representatives of the Lagos State House of Assembly were present at the signing ceremony.

In his remarks, Sanwo-Olu commended the House for what he described as thorough scrutiny and independent legislative oversight, which resulted in a marginal increase in the size of the budget.

He said the increase reflected the lawmakers’ belief that Lagos residents deserved more and that the state had the capacity to deliver more despite prevailing economic challenges.

According to him, the 2026 budget was designed to carry every resident along, regardless of location or sector, through investments in roads, schools, healthcare facilities, security, housing and economic interventions.

He described the budget as a renewed opportunity for the executive to deliver effective governance, noting that prosperity would be felt through infrastructure development, improved social services, job creation and enhanced security of lives and property.

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