Lagos State Governor, Babajide Sanwo-Olu, has formally signed the ₦4.4 trillion 2026 Appropriation Bill into law, setting the financial framework for the state’s development agenda in the coming year.
The signing ceremony took place on Monday at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, with top government officials and lawmakers in attendance.
Governor Sanwo-Olu disclosed that the approved budget, which stands at ₦4,444,509,776,438, was slightly higher than the ₦4.23 trillion initially presented to the Lagos State House of Assembly in November 2025. He described the increase as a reflection of the legislature’s independence and its commitment to ensuring that Lagos residents get more from government spending.
“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.”
He expressed appreciation to the lawmakers for their diligence and cooperation, noting that the budget-signing ceremony marked another important step in steering the affairs of the state toward sustainable growth and inclusive development.
The event was attended by the Deputy Governor, Dr Obafemi Hamzat, members of the state executive council, the Head of Service, Bode Agoro, lawmakers of the Lagos State House of Assembly, and other key stakeholders.
Earlier in January, the Assembly had passed the budget, which was tagged the “Budget of Shared Prosperity.” While presenting the proposal last November, Sanwo-Olu explained that the spending plan was designed to promote economic growth, reduce poverty, and improve the quality of life for 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 Sanwo-Olu, the 2026 budget is built on four key pillars, a human-centred approach, modern infrastructure, a thriving economy, and effective governance which is fully aligned with the state’s T.H.E.M.E.S+ Agenda.
The governor reaffirmed his administration’s commitment to prudent fiscal management and delivering tangible benefits to Lagosians through the implementation of the budget.
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