The Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438
(Four Trillion, Four hundred and Forty Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty Eight naira) for the 2026 fiscal year, reports thegazellenews.com
Thegazellenews.com also reports that the approved budget by the Assembly is about N210 billion increase from the N4.23 trillion budget proposal presented to the Assembly by the state Governor, Babajide Sanwo-Olu on Tuesday, 25 November, 2025.
The approval was granted during a plenary session held on Thursday, 8 January, 2026, following the presentation of a comprehensive report by the Chairman of the House Committee on Economic Planning and Budget, Hon. Sa’ad Olumoh.
The session, presided over by the Speaker, Rt. Hon. Mudashiru Obasa, saw lawmakers adopt the report through a voice vote, signaling unanimous support for the financial plan aimed at driving sustainable development across the state.
The 2026 budget prioritises infrastructure development, education, healthcare, economic growth, and social welfare, with over 52% allocated to capital projects. This strategic allocation underscores the government’s commitment to inclusive growth and improved quality of life for residents of Lagos State.
Following the passage, Speaker Obasa directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the approved bill to Governor Babajide Sanwo-Olu for assent.
The Speaker commended members of the Assembly for their diligence and collaborative efforts in ensuring the timely passage of the budget.
It will be recalled that Governor Sanwo-Olu had presented a budget proposal of ₦4.23 trillion to the House on Tuesday, 25 November, 2025, which he termed ‘Budget of Shared Prosperity.”
The Governor declared then that the budget reflects Lagos State’s vision to strengthen its position as a leading economic hub in Africa through robust investments in critical sectors that foster growth, innovation, and social progress.
