Lagos State Governor, Babajide Sanwo-Olu, Monday, signed a total of ₦4.4trn 2026 Appropriation Bill into law, with the promise that it would be responsibly implemented in the interest of residents
The State House of Assembly had earlier passed Appropriation Bill, tagged; “Budget of Shared Prosperity,” for governor’s assent into law, following extensive deliberations.
Recall that Sanwo-Olu, had on November 25, presented a total budget proposal of ₦4.237 trillion, tagged, ‘Budget of shared prosperity.’ for the 2026 fiscal year, marking a significant rise from the ₦3.366 trillion approved for 2025.
Subsequently, the State House of Assembly, had on January 8, 2026, passed a total of ₦4,444,509,776,438. as the 2026 budget for governor’s assent.
The House presided over by the Speaker, Mudashiru Obasa, during a plenary authorized the passage of the bill for a law for governor’s assent.
Presenting the report on the floor of the House, the Chairman of the Committee on Economic Planning and Budget, Sa’ad Olumoh, announced that the total budget size for the 2026 fiscal year is ₦4,444,509,776,438, with ₦2,106,704,566,113 earmarked for recurrent expenditure and ₦2,337,805,210,325 for capital expenditure for the year ending December 31, 2026.
Obasa, however, assured residents that the House would not relent in its oversight responsibilities to guarantee prudent implementation of the budget.
Instructively, the budget places priority on infrastructure development, education, healthcare, economic growth and social development in line with the state government’s commitment to inclusive and sustainable growth.A breakdown of the approved estimates showed over 52 per cent of the total expenditure been earmarked for capital projects, signalling a strong focus on long-term development and expansion of critical infrastructure across the state.Following the governor’s assent, the full implementation of the 2026 fiscal plan is expected to commence in earnest.
Speaking shortly after signing the budget on Monday, held at the State House, Alausa, Ikeja, Sanwo-Olu assured that the budget would be responsibly implemented in the interest of residents.
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