Lagos State Governor, Mr. Babajide Sanwo-Olu, officially signed the 2026 Appropriation Bill into law on Monday, marking the start of a massive fiscal year for the state. The ceremony, held at the State House in Alausa, Ikeja, saw the Governor finalize a budget of over N4.4 trillion, surrounded by his deputy, Dr. Obafemi Hamzat, as well as members of the State Executive Council and the State House of Assembly.
The budget, which has been themed the “Budget of Shared Prosperity,” originally started as a N4.2 trillion proposal presented by the Governor last December. However, after careful review and deliberations, the State House of Assembly approved an additional N200 billion, bringing the total to N4.4 trillion. The Governor noted that the increase reflects a shared belief between the executive and legislative arms that the people of Lagos deserve even more in terms of infrastructure and social welfare.
While addressing those present, Governor Sanwo-Olu expressed his gratitude to the lawmakers for their thoroughness. He noted that the Assembly took its time to scrutinize and dissect every detail of the document, ensuring it meets constitutional standards. He assured residents that the government is fully committed to implementing the budget in a way that directly impacts the lives of everyone living in the state, regardless of their status.
Representing the Speaker of the House, Mudashiru Obasa, the Majority Leader, Hon. Adams Nojeem, highlighted the hard work that went into the approval process. He mentioned that all house committees were directed to be meticulous in their review so that the final budget would reflect the current realities and challenges facing Lagosians today. With the law now signed, the state is expected to hit the ground running on various developmental projects designed to drive economic growth and public service efficiency.
