The Lagos State House of Assembly, on Tuesday, received the ₦4.237 trillion Year 2026 Appropriation Bill from Governor Babajide Sanwo-Olu during a well-attended plenary session at the Assembly Complex, Alausa, Ikeja. The budget, themed “Budget of Shared Prosperity,” represents the final full-year fiscal plan of the Sanwo-Olu administration.
Presiding over the session, the Speaker, Rt. Hon. Mudashiru Ajayi Obasa, described the 2026 proposal as a strategic roadmap designed to sustain Lagos’ long-term development trajectory.
“We are here to receive the Y2026 Appropriation Bill of ₦4.237 trillion, themed ‘Budget of Shared Prosperity.’ I extend my sincere appreciation to Mr. Governor and his team for crafting a comprehensive budget that aligns with Lagos’ aspirations for sustainable growth and development,” the Speaker said.
Obasa noted that the fiscal plan prioritises key sectors including healthcare, education, transportation, security, and good governance, which he described as critical to maintaining Lagos’ position as Africa’s foremost economic hub. He commended the governor for maintaining “a track record of resourceful consistency,” guiding the state through economic challenges while driving infrastructural expansion.
The Speaker also highlighted recent national economic gains under President Bola Ahmed Tinubu, noting Nigeria’s exit from the FATF grey list and the IMF’s confirmation of cleared debt obligations—developments he said have strengthened the country’s fiscal environment and positively impacted Lagos’ financial outlook.
The Assembly reaffirmed its commitment to collaborating with the Executive to ensure that the 2026 fiscal year accelerates inclusive development, infrastructure expansion, and improved service delivery across the state.
In his budget address, Governor Sanwo-Olu reaffirmed the administration’s commitment to inclusive and people-focused governance.
“I stand before you today with a great sense of purpose to present the last full-year budget of our administration, the Year 2026 Appropriation Bill, aptly named ‘The Budget of Shared Prosperity,’” he said.
The Governor described Lagos as a rising continental force:
“Today, our Lagos stands tall as a continental economic powerhouse—Africa’s second-largest city economy after Cairo. This status is no accident; it is the product of consistency, productivity and the unyielding Lagos spirit.”