Lagos State Governor Babajide Sanwo-Olu has officially signed the 2026 Budget of Shared Prosperity into law. The signing ceremony took place on Monday at Alausa, the state’s seat of power, following the House of Assembly’s approval of the N4.444 trillion appropriation bill on January 8.
Inclusive Governance and Strategic Development
The Governor emphasized that the budget is designed to strengthen governance, drive economic growth, and ensure that all Lagos residents benefit regardless of their location or sector. Key focus areas include education, health, security, infrastructure renewal, transportation, and agricultural development.
Addressing Emerging Challenges
Sanwo-Olu highlighted the state’s recent challenges, such as the Balogun Market fire disaster and ongoing coastal line demolitions at Ebute Metta, stating that the budget will enhance government capacity to tackle such issues. Residents can expect improved schools, healthcare facilities, and public services across Lagos.
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Fiscal Balance and Accountability
The Commissioner for Economic Planning and Budget, Mr. Ope George, explained that the budget’s structure allocates N2.337 trillion to Capital Expenditure (53%) and N2.107 trillion to Recurrent Expenditure (47%). This approach balances strategic infrastructure investment with efficient delivery of essential services. The budget underwent thorough legislative scrutiny before ratification.
Environmental Responsibility and Waste Management
Governor Sanwo-Olu called for responsible waste disposal and announced plans to enhance the capacity of Lagos State Waste Management Authority (LAWMA) alongside private waste collectors to maintain a clean and sustainable environment.
Commitment to Growth and Prosperity
Both the Executive and Legislative arms affirmed their dedication to implementing the budget responsibly, ensuring accountability, value for money, and tangible impact on residents’ lives. The 2026 budget promises job creation, MSME support, and overall economic growth for Lagos State.
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