Lagos State Governor, Mr Babajide Sanwo-Olu, has signed into law the 2026 Appropriation Bill, approving a record N4.4 trillion budget for the state’s next fiscal year.
The governor assented to the budget on Monday during a brief ceremony at the Conference Room of Lagos House, Alausa, Ikeja.
The Lagos State House of Assembly had earlier passed the appropriation bill in January, clearing the way for the governor’s approval.
The spending plan, tagged the “Budget of Shared Prosperity,” authorises a total expenditure of N4,444,509,776,438 for the 2026 financial year.
Top government officials present at the signing included the Deputy Governor, Dr Obafemi Hamzat; members of the State Executive Council; the Head of Service, Mr Bode Agoro; lawmakers of the House of Assembly; and other senior government functionaries.
Speaking when he presented the budget proposal to the lawmakers in November 2025, Sanwo-Olu said the fiscal plan was designed to promote inclusive growth and ensure that the benefits of development are felt across all segments of the state.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the governor said.
He added, “Our vision continues to guide every fiscal decision we make-to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality.”
Sanwo-Olu explained that the 2026 budget is anchored on four key priorities: placing people at the centre of governance, expanding modern infrastructure, stimulating sustainable economic growth, and strengthening public institutions.
According to him, the focus areas are fully aligned with the state’s T.H.E.M.E.S+ development agenda, which continues to serve as the blueprint for policy formulation and public investment in Lagos State.
