Lagos State Governor, Mr Babajide Sanwo-Olu, has signed into law the 2026 Appropriation Bill, approving a record-breaking N4.4 trillion budget for the state’s next fiscal year.
Sanwo-Olu assented to the bill on Monday during a brief ceremony held at the Conference Room of Lagos House, Alausa, Ikeja. The Lagos State House of Assembly had earlier passed the appropriation bill in January, paving the way for its formal 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 who witnessed 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 Lagos State House of Assembly; and other senior government functionaries.
Speaking when he presented the budget proposal to lawmakers in November 2025, Governor Sanwo-Olu said the fiscal plan was designed to promote inclusive growth and ensure that development benefits reach all segments of the state.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the governor said.
“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, these focus areas are fully aligned with the state’s T.H.E.M.E.S+ development agenda, which remains the blueprint for policy formulation and public investment in Lagos State.
