Sanwo-Olu Present N4.2tn 2026 Lagos Budget

Lagos State Governor, Babajide Sanwo-Olu, on Tuesday present proposed N4.237tn budget for 2026 fiscal year to di State House of Assembly, as di House vow say dem go carefully scrutinise di proposal. Security tight inside and around di Assembly complex, with police, Nigeria Security and Civil Defence Corps, and Lagos State Neighbourhood Safety Corps dey station for major entry points. Members of di state executive council, local government officials, traditional rulers and other invited guests attend di session wey Speaker Mudashiru Obasa preside. Sanwo-Olu start presentation of di budget wey dem tag “Budget of Shared Prosperity” around 1.25 p.m. Di proposed budget get total revenue of N3,993,774,552,141 and deficit financing of N243,332,457,167, with Internally Generated Revenue of N3,119,774,552,141 and federal transfers of N874,000,000,000. Government plan capital expenditure of N2,185,085,419,495 and recurrent expenditure of N2,052,021,589,812 wey include overhead cost of N1,084,245,843,091, personnel cost of N440,494,339,384, recurrent debt charges of N143,876,701,943, and debt repayment of N383,404,705,394.

Sectoral allocations include N847,472,071,966 for General Public Services, N147,040,088,897 for Public Order and Safety, N1,372,307,808,626 for Economic Affairs, N235,957,235,138 for Environment, N123,760,310,429 for Housing, N338,449,258,945 for Health, N54,682,339,586 for Recreation, N249,132,921,287 for Education, and N70,024,171,038 for Social Protection. Sanwo-Olu emphasise say di 2026 budget designed to promote shared prosperity and build Lagos wey go benefit all residents. E talk say di budget dey anchored on four pillars—a human-centred approach, modern infrastructure, thriving economy, and effective governance—aligned with di T.H.E.M.E.S+ Agenda. Speaker Obasa add say di budget prioritise healthcare, education, transportation, security and governance, promise say di House go meticulously scrutinise am. Reflecting on 2025 fiscal year, Obasa say di budget execution don promising, especially for health, education, transport, and security, and stress say 2026 N4.237tn budget must match Lagosians’ aspirations, boost economic