Lagos State Governor, Babajide Sanwo Olu, on Monday signed the ₦4.4 trillion 2026 appropriation bill into law, formally ushering the state into a new fiscal year anchored on shared prosperity and inclusive development.
The signing ceremony took place at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, shortly after the Lagos State House of Assembly concluded legislative work on the budget.
The budget, tagged Budget of Shared Prosperity, makes provision for a total expenditure of ₦4,444,509,776,438 for the 2026 fiscal year. It had earlier been presented to the lawmakers in November 2025 and passed in January 2026.
Speaking after assenting to the bill, Sanwo Olu said the budget was carefully designed to improve the quality of life of residents and ensure that growth is felt across all sectors of the state.
“Our mission remains clear. We are determined to eradicate poverty and build a Lagos that works for everyone,” the governor said.
“Our vision continues to guide every fiscal decision we make. We want to deliver a Greater Lagos where shared prosperity is not just an idea but a lived and felt reality for our people.”
Sanwo Olu explained that the 2026 budget is built on four major pillars. These include a human centred approach, modern infrastructure development, a thriving economy, and effective governance. He added that the pillars align with the state’s T.H.E.M.E.S Plus Agenda, which remains the framework for policy implementation.
He also expressed appreciation to members of the Lagos State House of Assembly for what he described as their diligence and cooperation throughout the budget process.
Present at the signing ceremony were the Deputy Governor, Dr Obafemi Hamzat, members of the State Executive Council, the Head of Service, Bode Agoro, lawmakers of the Lagos State House of Assembly, and other senior government officials.
