Sanwo-Olu signed 2026 N4.4t budget into law in Lagos

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Faith Adebola

Blogs Home » Browse Blogs » Sanwo-Olu signed 2026 N4.4t budget into law in Lagos

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5 minutes, 30 seconds

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Governor Babajide Sanwo-Olu, on Monday, signed into law, the 2026 Appropriation Bill, at a brief ceremony held in Alausa, Ikeja.

The budget, tagged 2026 Budget of Shared Prosperity estimated at N4.444 Trillion, was passed by the House of Assembly on January 8, after which the legislature transmitted the document to the Executive arm for signing.

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.

The Governor said the budget was predicated on an inclusive governance approach aimed at impacting the lives of the State’s residents, regardless of the sector they operate and area they live.

Sanwo-Olu noted that the State faced difficult governance challenges into the year, making reference to the fire disaster at Balogun Market in Lagos Island and the ongoing demolition of shanties being enforced along the coastal line of Ebute Metta.

The challenges, the Governor said, reflected the need for improved infrastructure and service delivery, noting that the budget was expected to raise the capacity of the Government in solving the emerging challenges and make the State better.

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.”

In 2026, Sanwo-Olu said there would be a strategic focus 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.

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 Appropriation Law 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. He pointed out that the approval process of the budget passed through legislative scrutiny of the House and committee engagement with Ministries, Departments and Agencies (MDAs).

He said: “The expenditure framework adopts a balanced structure, comprising N2.337 trillion in Capital Expenditure, representing 53 per cent, and N2.107 trillion in Recurrent Expenditure, which stands at 47 per cent. This balance reflects a clear policy choice, which is to sustain strategic infrastructure investment while ensuring the efficient delivery of essential government services that directly affect the daily lives of Lagosians.

“As the Ministry that has statutory responsibility for economic planning, budgeting, monitoring, and performance evaluation, we approach the implementation of the 2026 Budget of Shared Prosperity with a clear sense of ownership and responsibility. The recorded significant performance of the 2025 Budget provides a solid and credible foundation for the effective implementation of the 2026 Budget.”

The Speaker, Rt. Hon. Mudashiru Obasa, represented by Majority Leader, Hon. 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,” Hon. Adam said.

Lagos Law Sanwo-Olu Budget Appropriation Bill

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