The Lagos State House of Assembly has approved the N4.4 trillion Appropriation Bill for the 2026 fiscal year, marking a significant step in the state’s financial planning ahead of the final year of Governor Babajide Sanwo-Olu’s administration.
The approval followed the adoption of the report from the House Committee on Economic Planning and Budget, which was presented during plenary by the committee chairman, Sa’ah Olumoh. The report outlined the assumptions, projections, and structural framework of the 2026 budget, which has been themed the “Budget of Shared Prosperity.”
According to Olumoh, the 2026 budget represents the third budget cycle of the current administration and will serve as the final new-cycle budget of Governor Sanwo-Olu’s second term. He noted that the budget aims to continue the government’s development agenda while ensuring inclusive growth and equitable allocation of resources across sectors.
The House’s swift passage of the bill underscores the legislature’s commitment to facilitating the executive’s fiscal strategy, providing a roadmap for revenue mobilisation, capital projects, and social interventions across Lagos State in the coming year.
Observers say the 2026 budget will be closely watched as it sets the stage for completion of ongoing projects and implementation of strategic programs designed to enhance economic prosperity and public service delivery in Africa’s largest city.
