By Atoyebi Nike
The Lagos State Governor, Babajide Sanwo-Olu, on Tuesday presented a proposed N4.237 trillion budget for the 2026 fiscal year to the state House of Assembly.
Security was heightened around the Assembly complex, with police, the Nigeria Security and Civil Defence Corps, and the Lagos State Neighbourhood Safety Corps stationed at key entry points.
Members of the state executive council, local government officials, traditional rulers, and other dignitaries attended the session, presided over by Speaker Mudashiru Obasa.
Sanwo-Olu began his presentation, titled “Budget of Shared Prosperity,” at 1:25 p.m., highlighting the plan’s aim to promote inclusive development for all Lagos residents.
“Our mission remains clear, to eradicate poverty and build a Lagos that works for all,” the governor said. He explained that the budget is anchored on four strategic pillars: a human-centered approach, modern infrastructure, a thriving economy, and good governance.
If approved, the N4.237tn proposal would mark a significant increase in Lagos’ annual spending, reflecting growth of over N3tn in five years. Budget records show that the state’s appropriation has risen from N1.1tn in 2021 to the proposed N4.237tn for 2026, an increase of N3.074tn under Sanwo-Olu’s administration. The budget grew to N1.75tn in 2022, N1.76tn in 2023, N2.26tn in 2024, and N3.366tn in 2025.
According to the governor, the new budget “reaffirms our collective belief that Lagos can continue to rise.” He stressed that it builds on existing development foundations and reiterated his commitment to completing ongoing projects.
