Lagos State Governor Babajide Sanwo-Olu has formally signed the ₦4.4 trillion 2026 Appropriation Bill into law, setting the framework for the state’s fiscal and development priorities in the new year.
The signing took place on Monday, January 19, at the Lagos House, Alausa, Ikeja, shortly after the Lagos State House of Assembly passed the bill. The budget, christened the “Budget of Shared Prosperity,” authorises a total expenditure of ₦4,444,509,776,438 for the 2026 fiscal year.
The event was attended by key state officials, including Deputy Governor Obafemi Hamzat, members of the State Executive Council, the Head of Service, Bode Agoro, lawmakers, and other senior government functionaries.
Speaking at the ceremony, Governor Sanwo-Olu said the 2026 budget reflects his administration’s commitment to inclusive growth and improved living standards for Lagos residents. He noted that the spending plan is designed to ensure that economic progress translates into tangible benefits for people across all communities in the state.
“Our focus is to reduce poverty and build a Lagos that delivers opportunities and a better quality of life for everyone,” the governor said, adding that shared prosperity remains a central objective of his administration.
According to Sanwo-Olu, the budget is structured around four major pillars: human-centred development, strategic investment in modern infrastructure, economic growth and competitiveness, and effective, accountable governance. He explained that these priorities are aligned with the state’s T.H.E.M.E.S+ Agenda, which serves as Lagos’ long-term development roadmap.
The governor expressed optimism that the implementation of the 2026 budget would further strengthen Lagos’ position as Nigeria’s economic hub while addressing critical social and infrastructure needs across the state.