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Lagos State Assembly passes ₦4.4 trillion budget for 2026, covering recurrent and capital expenditures.
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Governor Sanwo-Olu’s “Budget of Shared Prosperity” emphasizes poverty eradication, modern infrastructure, and effective governance.
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Budget aligned with T.H.E.M.E.S+ Agenda, focusing on human-centered growth, thriving economy, and inclusive development.
The Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438 for the 2026 fiscal year.
The bill was passed during plenary on Thursday by Speaker Mudashiru Obasa, authorizing the issuance and appropriation of the funds.
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Olumoh Sa’ad, Chairman of the Committee on Economic Planning and Budget, explained that ₦2.106tn is allocated for recurrent expenditure, while ₦2.338tn is earmarked for capital projects to run through December 31, 2026.
Obasa directed the Clerk of the House, Olalekan Onafeko, to forward a clean copy of the approved budget to Governor Babajide Sanwo-Olu for assent.
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Governor Sanwo-Olu, who had presented a proposed ₦4.237tn budget in November 2025, described the 2026 budget as the “Budget of Shared Prosperity”, aimed at promoting prosperity and improving the lives of all Lagos residents.
He emphasized that the budget is anchored on four pillars: a human-centered approach, modern infrastructure, a thriving economy, and effective governance, all in line with the state’s T.H.E.M.E.S+ Agenda.
The governor said, “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.”
