The Appropriation Bill presented last week by Governor Babajide Sanwoolu has passed second reading on the floor of the Lagos House of Assembly.
The lawmakers during plenary, deliberated on the Year 2026 Budget , tagged “Budget of Shared Prosperity,” which according to the state government, is targeted at eradicating poverty and building a safer and more prosperous Lagos.
Giving insights into the proposed spending plan, the Chairman, House Committee on Economic Planning and Budget, Mr. Sa’ad Olumoh, stated that the Budget is designed to consolidate the developmental strides recorded since Governor Sanwo-Olu assumed Office in 2019.
He stressed that the Budget will ensure completion of all ongoing projects.
Mr. Olumoh further implored Members to critically scrutinize the proposals of all MDAs before forwarding them to the Committee on Economic Planning and Budget.
Commending the House leadership, the Majority Leader, Mr. Noheem Adams, noted that the Budget reflects the growing competence and capacity of Lagos State.
He added that governments that prioritize capital expenditure demonstrate responsibility and long-term planning.
According to him, the Y2026 Budget, once passed, will significantly boost the State’s economy.
Contributing, member representing Oshodi-Isolo I constituency, Mr. Ajomale Oladipo expressed concerns regarding the new tax reforms and their potential impact on budget performance, especially considering the State’s recent rise in Internally Generated Revenue to 70 percent.
Also, Lawmaker representing Surulere 1, Mr . Desmond Elliot described the Budget of ‘Shared Prosperity’ as one that will meet the needs of Lagosians.
He urged the House to prioritize infrastructural development, particularly inner roads across communities in the State.
He further called for improvements in environmental sanitation.
In his remarks, the Deputy Majority Leader, Mr. Adedamola Richard Kasunmu stressed the need for thorough scrutiny of the appropriation details to ensure they align with the intended goals of the Budget.
After extensive deliberation, the Y2026 Appropriation Bill was committed to the Committee on Economic Planning and Budget for further legislative action, with a directive to report its findings within five weeks.
Written by Olusegun Haastrup