By Boluwatife Adedokun
Lagos State Governor, Babajide Sanwo-Olu, has signed the ₦4.4 trillion 2026 Appropriation Bill into law, setting the financial framework for the state’s development agenda for the coming year.
The signing ceremony was held on Monday at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, with top government officials and members of the Lagos State House of Assembly in attendance.
Sanwo-Olu disclosed that the approved budget totals ₦4,444,509,776,438, slightly higher than the ₦4.23 trillion initially presented to the lawmakers in November 2025. He said the increase reflected the independence of the legislature and its commitment to ensuring greater value for Lagos residents.
“You have just witnessed my assent to the 2026 Appropriation Bill,” the governor said. “The slight increase in the budget proposal shows the independence of the House of Assembly and their belief that Lagosians deserve more.”
The governor commended the lawmakers for their diligence and cooperation, describing the budget signing as a significant step toward achieving sustainable growth and inclusive development in the state.
Those present at the event included the Deputy Governor, Dr Obafemi Hamzat, members of the State Executive Council, the Head of Service, Bode Agoro, lawmakers, and other key government officials.
Earlier in January, the House of Assembly passed the budget, which was tagged the “Budget of Shared Prosperity.” While presenting the proposal last November, Sanwo-Olu said the spending plan was designed to stimulate economic growth, reduce poverty and improve the quality of life of Lagos residents.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the governor had said. “Our vision is to deliver a Greater Lagos where shared prosperity is not just an aspiration, but a reality that people can feel.”
According to the governor, the 2026 budget is built on four pillars—a human-centred approach, modern infrastructure, a thriving economy and effective governance—aligned with the state’s T.H.E.M.E.S+ Agenda.
Sanwo-Olu reaffirmed his administration’s commitment to prudent fiscal management and to ensuring that the implementation of the budget delivers tangible benefits to residents across the state.
