Obasa
Olayiwola Mercy
The Lagos State House of Assembly has passed the ₦4.4 trillion 2026 Appropriation Bill, dubbed the “Budget of Shared Prosperity”, into law. This milestone marks a significant step in Lagos State’s development agenda, focusing on consolidating economic gains, attracting private sector participation, and ensuring shared prosperity for residents.
The budget prioritizes infrastructure development, education, healthcare, economic growth, and social development, aligning with the state government’s commitment to inclusive and sustainable growth. Over 52% of the total expenditure is earmarked for capital projects, underscoring a strong focus on long-term development and critical infrastructure expansion.
Speaker Mudashiru Obasa emphasized that the budget was people-centered and development-driven, aiming to drive inclusive growth, strengthen infrastructure, and improve welfare. The capital component will support ongoing road and transportation projects, health and educational facilities expansion, housing development, and strategic initiatives to boost service delivery and productivity.
The budget breakdown shows ₦2,106,704,566,113 allocated for recurrent expenditure and ₦2,337,805,210,325 for capital expenditure. Governor Babajide Sanwo-Olu had presented the ₦4.237 trillion budget proposal to the Assembly on November 25, 2025, highlighting its focus on poverty eradication, human-centered approach, enhanced infrastructure, and effective governance.
The Assembly’s passage of the budget is expected to fast-track development in critical sectors like transportation, education, healthcare, and housing, opening up new economic opportunities for residents. Lawmakers commended the budget as realistic, balanced, and capable of driving inclusive economic growth.The budget now awaits Governor Sanwo-Olu’s assent for implementation.
