Lagos State Governor Babajide Sanwo-Olu has presented a ₦4.2 trillion Appropriation Bill for 2026 to the State House of Assembly in Alausa, Ikeja.
Tagged the “Budget of Shared Prosperity,” it is the last full-year budget of the Sanwo-Olu administration. The proposal features a capital expenditure of ₦2.1 trillion and a recurrent expenditure of slightly over ₦2 trillion. The budget carries a deficit of about ₦243 billion.
Sanwo-Olu said the spending plan is aimed at sustaining growth and development across Lagos. He noted that it is built on four key pillars: a human-centred approach, modern infrastructure, a thriving economy and good governance.
The governor disclosed that the state expects revenues of ₦3.9 trillion from internally generated sources and federal transfers. He assured lawmakers that the proposal reflects the needs of a rapidly expanding state and will support ongoing reforms across major sectors.
Reporting by Barnabas Hunjo