Lagos State Governor Babajide Sanwo-Olu has signed into law a ₦4.4 trillion ($3bn approx.) budget for the 2026 financial year, the largest in the state’s history.
The appropriation bill was approved on Monday at a brief ceremony at the Lagos House in Alausa, Ikeja, after it was passed by the Lagos State House of Assembly in January.
The spending plan, titled the Budget of Shared Prosperity, authorises total expenditure of ₦4,444,509,776,438 and sets out the state government’s fiscal priorities for the year ahead.
Senior officials present at the signing included Deputy Governor Obafemi Hamzat, members of the State Executive Council, the Head of Service Bode Agoro, and lawmakers from the state assembly.
Governor Sanwo-Olu said the budget was designed to promote inclusive growth and ensure that economic benefits are felt across all sections of society.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” he said while presenting the proposal to lawmakers in November 2025.
He added that the government’s vision was to deliver “a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality”.
According to the governor, the 2026 budget is built around four priorities: people-centred governance, expansion of modern infrastructure, sustainable economic growth, and stronger public institutions.
The administration says the spending framework aligns with its T.H.E.M.E.S+ development agenda, which continues to guide policy direction and public investment in Nigeria’s commercial hub.
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