Governor Babajide Sanwo-Olu of Lagos State has signed the 2026 Appropriation Bill of N4.44 trillion into law, describing it as the “Budget of Shared Prosperity” aimed at driving inclusive growth, accelerating infrastructure development and improving the quality of life for residents.
The signing ceremony, which took place at the State House, Ikeja, was witnessed by the Deputy Governor, Dr Obafemi Hamzat, members of the State Executive Council and representatives of the Lagos State House of Assembly led by the Majority Leader, Mr Nojim Adams.
The assent comes eleven days after the Lagos State House of Assembly approved the budget, revising it upward from the ₦4.2 trillion earlier proposed by the governor in December, following extensive legislative scrutiny and engagement with Ministries, Departments and Agencies (MDAs).
Speaking at the ceremony, Governor Sanwo-Olu noted that the 2026 budget is the last full-year budget of his second term and expressed optimism that Lagosians would be the greatest beneficiaries of its implementation.
“This Budget of Shared Prosperity is designed to carry every resident of Lagos along, regardless of location or sector. It is a renewed opportunity for us to deliver effective governance, deepen infrastructure development, expand social services and create more economic opportunities for our people,” the governor said.
He commended the Speaker, Rt. Hon. Mudashiru Obasa, and members of the House for their diligence, independent oversight and commitment to good governance, stressing that the synergy between the Executive and the Legislature remains critical to achieving the state’s development goals.
“The marginal upward review of the budget reflects the lawmakers’ belief that Lagosians deserve more and that, together, we can deliver more despite prevailing economic challenges,” he added.
Representing the Speaker, Majority Leader of the House, Mr Nojim Adams, praised the governor’s people-oriented policies and said the Assembly subjected the budget to rigorous scrutiny to ensure it reflects the economic realities and development priorities of the state.
“The Lagos State House of Assembly remains committed to working with the Sanwo-Olu-led administration to ensure that the THEMES+ agenda delivers a greater Lagos for all,” Adams said.
Earlier, the Commissioner for Economic Planning and Budget, Mr Ope George, explained that the budget clearly articulates the intent, direction and delivery framework of the administration for 2026.
He disclosed that the expenditure framework comprises ₦2.3 trillion in capital expenditure (53 per cent) and ₦2.1 trillion in recurrent expenditure (47 per cent), reflecting a deliberate policy choice to sustain heavy infrastructure investment while ensuring efficient delivery of essential public services.
According to him, priority sectors include transportation, agriculture, infrastructure renewal, health, education, environmental sustainability, housing, public safety and social protection.
