Governor Babajide Sanwo-Olu has presented a N4.237 trillion Lagos budget for the 2026 fiscal year. He delivered the proposal on Tuesday before the Lagos State House of Assembly. The session drew top government officials, traditional leaders, and civil society representatives.
Sanwo-Olu began his address at about 1:25 p.m. He explained that the budget, tagged “Budget of Shared Prosperity,” aims to push Lagos toward inclusive growth. According to him, the plan focuses on people, infrastructure, economic expansion, and good governance.
Governor Outlines Development Priorities
The Governor said the 2026 Lagos budget will drive shared prosperity across the state. He stressed that his administration intends to deepen development while ensuring that every resident benefits.
Sanwo-Olu added that his mission remains clear. He wants to reduce poverty and create a sustainable economic environment. Therefore, the budget places strong emphasis on ongoing projects and human-centred initiatives.
Lagos Budget Growth Over Five Years
The proposal marks a major rise in Lagos’ financial plan. It reflects an increase of more than N3 trillion within five years. Lagos’ budget climbed from N1.1 trillion in 2021 to the N4.2 trillion now planned for 2026.
The state raised its budget to N1.75 trillion in 2022 and N1.76 trillion in 2023. It increased again to N2.26 trillion in 2024. By 2025, the plan crossed the N3 trillion mark with a N3.366 trillion appropriation.
Sanwo-Olu said the new proposal confirms Lagos’ continued upward trajectory. He also promised that his government will complete all ongoing development projects across the state.
Tight Security Around the Assembly
Security agencies increased surveillance around the Lagos Assembly during the presentation. Officers from the Police, Civil Defence, and Neighbourhood Safety Corps secured all entry points to maintain order.
