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Lagos State Governor Babajide Sanwo-Olu on Tuesday laid before the state House of Assembly a proposed N4.237 trillion budget for the 2026 financial year.
The budget would be the state’s largest spending plan yet.
Security presence around the Assembly complex in Alausa was noticeably heightened as officers of the police, Civil Defence, and the Lagos Neighbourhood Safety Corps manned major access points ahead of the governor’s arrival.
Members of the state executive council, local government officials, traditional rulers, and invited guests were also in attendance.
The session was presided over by the Speaker, Mudashiru Obasa.
Presenting the proposal titled “Budget of Shared Prosperity” Sanwo-Olu said the 2026 plan is geared towards deepening inclusive growth and strengthening the gains recorded under his administration.
“Our focus remains firm: to reduce poverty and build a Lagos that offers opportunities to everyone,” he told lawmakers.
The governor identified four key pillars on which the budget is anchored: human development, modern infrastructure, economic expansion, and improved governance.
If approved, the proposal would mark a significant jump from previous yearly budgets.
A review of Lagos’ spending trajectory shows an increase from N1.1tn in 2021 to the new N4.237tn proposal for 2026—reflecting a rise of over N3tn in five years.
The state’s budget grew to N1.75tn in 2022, N1.76tn in 2023, N2.26tn in 2024, and N3.366tn in 2025, before reaching the latest benchmark.
Sanwo-Olu said the new proposal builds on longstanding development commitments and assured residents and legislators that ongoing projects across the state will be prioritised.
“We are committed to completing all projects currently underway,” he stated.
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