Lagos State 2026 budget of ₦4.44 trillion approved, focusing on infrastructure, education, healthcare, and social welfare

The Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438 (Four Trillion, Four Hundred and Forty-Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty-Eight naira) for the 2026 fiscal year.

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The approval followed a plenary session on Thursday, 8 January, during which Hon. Sa’ad Olumoh, Chairman of the House Committee on Economic Planning and Budget, presented a comprehensive report.

The session, presided over by Speaker Rt. Hon. Mudashiru Obasa, saw lawmakers adopt the report through a voice vote, signalling unanimous support for a financial plan designed to drive sustainable development across Lagos State.

The 2026 budget prioritises infrastructure development, education, healthcare, economic growth, and social welfare, with more than 52% allocated to capital projects.

The strategic allocation underscores the state government’s commitment to inclusive growth and improving the quality of life for residents.

Speaker Obasa directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the approved bill to Governor Babajide Sanwo-Olu for assent.

He praised members of the Assembly for their diligence and collaborative effort in ensuring the timely passage of the budget.

Governor Sanwo-Olu had initially presented a proposal of ₦4.23 trillion to the House on 25 November 2025, describing it as the “Budget of Shared Prosperity.”

He said the plan reflects Lagos State’s ambition to solidify its position as a leading economic hub in Africa through investments in key sectors that foster growth, innovation, and social progress.

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The approval of the ₦4.44 trillion budget positions Lagos State to implement critical projects aimed at infrastructure enhancement, educational advancement, healthcare improvement, and social welfare development, signalling a strong focus on both economic and social growth for the coming year.