Lagos State Governor, Babajide Sanwo-Olu, has formally signed the whopping ₦4.4 trillion 2026 budget into law, setting the financial tone for Africa’s largest subnational economy in the coming year.
The signing ceremony took place on Monday at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, following the passage of the appropriation bill by the Lagos State House of Assembly.
The budget, tagged “Budget of Shared Prosperity,” authorises the expenditure of ₦4,444,509,776,438 for the 2026 fiscal year, after lawmakers concluded deliberations and approved the proposal in January.
In attendance at the signing were Deputy Governor, Dr Obafemi Hamzat; members of the State Executive Council; the Head of Service, Bode Agoro; lawmakers of the Lagos State House of Assembly; and other key stakeholders.
While presenting the budget to the Assembly in November 2025, Governor Sanwo-Olu explained that the spending plan was crafted to drive inclusive growth and improve the quality of life of Lagos residents.
“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,” the governor said.
Sanwo-Olu noted that the 2026 budget is anchored on four core pillars: a human-centred approach, modern infrastructure, a thriving economy, and effective governance, all aligned with the state’s T.H.E.M.E.S+ Agenda.
The signing effectively clears the way for full implementation of the state’s development priorities in 2026, as Lagos positions itself for sustained growth and shared economic benefits.
