Lagos State Governor, Mr Babajide Sanwo-Olu, has formally assented to the state’s 2026 Appropriation Law, approving a record ₦4.4 trillion spending plan for the new fiscal year.
The governor signed the budget into law on Monday at a brief ceremony held in the Conference Room of Lagos House, Alausa, Ikeja.
The Lagos State House of Assembly had passed the financial plan in January, paving the way for the governor’s assent. The budget, christened the “Budget of Shared Prosperity”, authorises total expenditure of ₦4,444,509,776,438 for the 2026 financial year.
Several top government officials attended the signing, including Deputy Governor Dr Obafemi Hamzat, members of the State Executive Council, Head of Service Mr Bode Agoro, lawmakers, and other senior stakeholders.
While presenting the appropriation bill to lawmakers in November 2025, Governor Sanwo-Olu said the budget was crafted to drive inclusive growth and ensure that development reaches every resident of the state.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all “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,” the governor said.
He further explained that the spending framework rests on four strategic pillars—placing people at the centre of governance, expanding modern infrastructure, stimulating economic growth, and strengthening institutions.
According to him, these priorities are fully aligned with the state’s T.H.E.M.E.S+ development agenda, which continues to shape policy direction and public investment decisions.
10 Suggested Headlines
Sanwo-Olu
