Governor Babajide Sanwo-Olu has officially enacted the Lagos State budget for the 2026 fiscal year, setting the stage for the state's financial operations. The governor put his signature on the massive ₦4,444,509,776,438 appropriation bill on Monday, January 19.
A Ceremony for Shared Prosperity
The signing event took place at the Conference Room of Lagos House, situated within the Alausa Secretariat in Ikeja. The ceremony was witnessed by key figures in the state's administration, including Deputy Governor Obafemi Hamzat, members of the State Executive Council, the Head of Service Bode Agoro, lawmakers, and other senior government officials. This gathering followed the prior approval of the spending plan by the Lagos State House of Assembly.
Pillars of the 2026 Fiscal Plan
Governor Sanwo-Olu emphasized that the budget, christened the "Budget of Shared Prosperity," is engineered to foster inclusive growth and elevate the living standards for all Lagos residents. He reiterated the administration's core mission to eliminate poverty and construct a Lagos that functions effectively for every citizen.
"Our vision continues to guide every fiscal decision we make — to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality," the governor stated.
The financial blueprint is constructed on four fundamental pillars:
- A human-centred development strategy.
- Significant investment in contemporary infrastructure.
- The promotion of a vibrant and thriving economy.
- The establishment of effective and responsive governance.
Alignment with Long-Term Development Goals
Sanwo-Olu further clarified that this fiscal plan is in direct harmony with the state government's T.H.E.M.E.S+ Agenda. This agenda serves as the foundational blueprint guiding Lagos's long-term developmental objectives, ensuring that annual budgets are strategic steps towards a larger, cohesive vision for the state's future.
The commencement of this ₦4.4 trillion budget marks a critical step in Lagos's journey towards enhanced economic management and targeted development across its various sectors.
