Lagos State Governor, Babajide Sanwo-Olu, has signed into law the 2026 Appropriation Bill, approving a record N4.4 trillion budget for the state’s next fiscal year.
The governor assented to the budget 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 the governor’s assent.
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 present at the signing included the Deputy Governor, Dr Obafemi Hamzat; members of the State Executive Council; the Head of Service, Mr Bode Agoro; members of the Lagos State House of Assembly; and other senior government officials.
Speaking when he presented the budget proposal to lawmakers in November 2025, Sanwo-Olu said the fiscal plan was designed to promote inclusive growth and ensure that the benefits of development reach all segments of the state.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the governor said.
He added that the vision behind the budget is to deliver a Greater Lagos where shared prosperity is not merely an aspiration but a reality experienced by residents.
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 align with the state’s T.H.E.M.E.S+ development agenda, which continues to guide policy formulation and public investment in Lagos State.
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