Sanwo-Olu signs N4.4tn Lagos’ budget into law

Lagos State’s N4.4tn 2026 Budget of Shared Prosperity was on Monday by Governor Babajide Sanwo-Olu inti law.

The budget, estimated at N4.444 trillion, was passed by the House of Assembly on January 8, after which the legislature transmitted the document to the governor.

Sanwo-Olu said the budget signified his administration’s bold move to strengthen the foundation of governance and make the state continuously competitive, while repositioning it for growth.

He said, “This is an inclusive budget designed to carry every resident and community along, irrespective of where they live in the state or sector in which they operate. Our residents will feel the touch and impact of governance across areas of our priorities, including education where we will build new schools, health sector where new facilities will be built. There are various interventions we will do to enhance and improve the quality of life.

“In security, we will be providing improved services to ensure Lagos remains safe for businesses and living. These are some of the ways in which the prosperity of our dear state will be achieved. This budget will be implemented responsibly; we will put up our A-grade in order to ensure accountability, while also ensuring that value for money is created. In the end, Lagosians will feel the impact of the great effort which the Executive and the House of Assembly have made.”

Sanwo-Olu said there would be a strategic focus in 2026 on infrastructure renewal, transportation expansion, agricultural development, and other growth-enhancing initiatives that would stimulate productivity, support MSMEs, create jobs, and drive broad-based economic growth.

The governor frowned at indiscriminate dumping of waste across the metropolis, describing the situation as “completely unacceptable”.

He urged residents to show more responsibility towards protecting the environment, while noting that the state government would be doubling the capacity of Lagos State Waste Management Authority (LAWMA) and private waste collectors.

The Commissioner for Economic Planning and Budget, Mr. Ope George, said the appropriation framework reflected the state government’s deliberate planning to bring about a more resilient and people-centred governance to position Lagos for future growth.

Describing the budget as “bold, disciplined fiscal response to prevailing economic realities”, George disclosed that the budget was reviewed upward from N4.2 trillion initially proposed by the executive.

The Speaker, Rt. Hon. Mudashiru Obasa, represented by Majority Leader, Noheem Adams, said the legislative scrutiny on the budget was thorough, pointing out that all relevant committees dissected the document before ratification by the House to reflect the yearnings of residents.

“The budget has been well scrutinised and we have confidence in the capacity of the Executive to implement the document to the letter,” He said.