Sanwo-Olu Signs ₦4.44trn 2026 Budget Into Law, Promises Responsible Implementation
Lagos State Governor, Mr Babajide Sanwo-Olu, on Monday signed into law the 2026 Appropriation Bill, approving a total budget estimate of ₦4,444,509,776,438 for the fiscal year.
The signing ceremony took place at the State House, Alausa, Ikeja, with the Deputy Governor, Dr Obafemi Hamzat, members of the State Executive Council and the Lagos State House of Assembly in attendance.
Sanwo-Olu had in December 2025 presented a proposed budget of ₦4.2 trillion to the House of Assembly, tagged the “Budget of Shared Prosperity,” before lawmakers approved an increased sum of ₦4.4 trillion on January 8, 2026.
The bill was passed during plenary presided over by the Speaker, Rt. Hon. Mudashiru Obasa, authorising the issuance and appropriation of ₦4,444,509,776,438 for the year ending December 31, 2026.
Presenting the report on the floor of the House, the Chairman of the Committee on Economic Planning and Budget, Hon. Sa’ad Olumoh, said the budget comprises ₦2,106,704,566,113 for recurrent expenditure and ₦2,337,805,210,325 for capital expenditure.
Speaking after signing the bill into law, Governor Sanwo-Olu assured Lagos residents that the budget would be implemented responsibly, expressing satisfaction with the upward review by the lawmakers, which he said reflected their belief that Lagosians deserve more development.
He added that the Budget of Shared Prosperity is designed to be inclusive, with investments targeted at roads, schools, healthcare facilities, security, industries and other social interventions to ensure that residents across all parts of the state feel the impact of governance.
Also speaking, the Speaker of the House, Rt. Hon. Mudashiru Obasa, represented by the Majority Leader, Hon. Adams Nojeem, and the Commissioner for Economic Planning and Budget, Mr Opeyemi George, expressed confidence that the approved budget would address the realities of modern Lagos and provide a clear framework for inclusive growth and shared prosperity in 2026.
