The Lagos State House of Assembly has passed into law the 2026 Budget Reordering Bill presented by Governor Babajide Sanwo-Olu, after considering the report of the House Committee on Economic Planning and Budget.
The report was presented by the Chairman of the Committee, Hon. Lukmon Olumoh, during plenary presided by the Speaker, Rt. Hon. Mudashiru Obasa, on Tuesday.
The committee said the budget reordering was necessitated by the need to address disparities in the implementation of capital projects across Ministries, Departments and Agencies (MDAs).
According to the report, while some MDAs had recorded substantial implementation of their capital provisions, others had experienced lower levels of implementation, affecting the delivery of democratic dividends and the overall performance of the 2026 budget.
The committee said the reordering would enable the state government to adopt a more focused approach to capital investment, accelerate project execution and improve the overall performance of the budget.
It disclosed that the state’s budget performance stood at 69 per cent as of June 30, 2026, with recurrent revenue at 79 per cent, recurrent expenditure at 73 per cent and capital expenditure at 66 per cent.
The committee said the reordering would prioritise key projects, including transportation infrastructure, completion of hospital projects, housing, environmental sanitation and waste management, security and emergency equipment, as well as other critical infrastructure across the State.
Following deliberations, the committee recommended adjustments to various allocations to ensure that priority projects received adequate funding.
The revised budget provides ₦2,076,865,147,420 for recurrent expenditure and ₦2,367,644,239,328 for capital expenditure, bringing the revised budget size to ₦4,444,509,386,748 for the 2026 fiscal year.
After the report was considered and adopted, Obasa put the Budget Reordering Bill to a vote, and the House subsequently passed it into law.
