Lagos State Governor Babajide Sanwo-Olu on Tuesday laid before the Lagos State House of Assembly a N4.2 trillion spending plan for the 2026 fiscal year, tagged “The Budget of Shared Prosperity.”
The proposal,Lagos’ largest yet allocates N2.2 trillion (52%) to capital expenditure and N2 trillion (48%) to recurrent spending, signalling the administration’s continued tilt toward infrastructure, human development, and systems reinforcement.
Sectoral Allocations
According to the estimates submitted to the legislature, key sectors will receive the following votes:
Economic Affairs: N1.47 trillion
Health: N338 billion
Education: N249 billion
Environment: N235 billion
Public Order and Safety: N147 billion
Housing: N123 billion
Social Protection: N70 billion
Recreation, Culture and Religion: N54 billion
The governor disclosed that the 2025 budget had recorded 81% performance as of September 30, 2025, a figure he described as evidence of improved fiscal discipline and stronger alignment between ministries’ work plans and the state’s development framework.
Four Strategic Pillars
Sanwo-Olu said the 2026 plan is anchored on four strategic pillars; Human-Centric City, Modern Infrastructure, Thriving Economy, and Effective Governance structured to align with the state’s evolved T.H.E.M.E.S+ Agenda and the Parastatal Monitoring Framework.
He emphasized that the budget aims to “consolidate Lagos’ economic ascendancy while ensuring prosperity reaches more households,” a message delivered to lawmakers led by Speaker Mudashiru Obasa.
The Assembly is expected to begin its consideration of the estimates in the coming days.
