LAGOS STATE : Sanwo Olu Presents N4.2 Trillion Budget Of Shared Prosperity For 2026

The Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, has presented the Year 2026 Budget Estimates of N4.2 trillion to the Lagos State House of Assembly, describing it as the “Budget of Shared Prosperity.”

The Governor said the 2026 budget is designed to deepen inclusive growth, expand opportunities, and ensure that the benefits of development are broadly shared among all residents. He emphasised that the budget consolidates ongoing investments while strengthening the foundations for a more resilient, competitive, and people-focused Lagos.

The N4.2 trillion budget comprises Capital Expenditure of N2.185 trillion (52%) and Recurrent Expenditure of N2.052 trillion (48%), reflecting the administration’s commitment to sustained infrastructure development alongside efficient funding of essential government services.

A major share of the allocation goes to Economic Affairs, which receives N1.372 trillion for infrastructure renewal, transportation expansion, agriculture, and other growth-enhancing initiatives. This is followed by Health (N338 billion), Education (N249 billion), Environment (N235 billion), and Housing (N123 billion) – all aimed at improving human capital, environmental security, and access to essential services.

Further allocations include Public Order and Safety (N147 billion), Social Protection (N70 billion), and Recreation, Culture and Religion (N54 billion), underscoring the State’s focus on safety, welfare, and community development.

Providing an update on the current fiscal year, Mr Governor disclosed that the Year 2025 Budget has achieved 81% performance as of September 30, 2025, attributing this to improved revenue performance, stronger project execution, and enhanced fiscal discipline.

The 2026 Budget of Shared Prosperity is anchored on four strategic pillars: Human-Centric City, Modern Infrastructure, Thriving Economy, and Effective Governance. These pillars align with the evolved T.H.E.M.E.S Plus Agenda and the State’s Parastatal Monitoring Framework.

The Human-Centric pillar focuses on improved healthcare, quality education, youth empowerment, and expanded social protection for vulnerable groups. The Modern Infrastructure pillar strengthens transport networks, housing, drainage systems, flood control, and urban renewal projects statewide.

The Thriving Economy pillar prioritises job creation, MSME growth, technological innovation, creative economy expansion, tourism, and agriculture, while the Effective Governance pillar enhances transparency, accountability, and value-for-money through digital transformation and performance monitoring.

Mr Governor reaffirmed that the Budget of Shared Prosperity represents the State’s commitment to building a Lagos where prosperity is inclusive, opportunities are accessible, and no resident is left behind.

He urged all stakeholders – citizens, private sector partners, civil society, and development institutions – to support the implementation of the 2026 Budget for the continued progress of a #GreaterLagosRising