Lagos 2026 budget of N4.2tn prioritises shared prosperity, infrastructure, and economic growth under Governor Babajide Sanwo-Olu.
The Lagos State Governor, Babajide Sanwo-Olu, on Tuesday, December 3, 2025, presented a proposed N4.237 trillion budget for the 2026 fiscal year to the Lagos State House of Assembly.
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Security was heightened at the Assembly complex, with officers from the Nigeria Police Force, the Nigeria Security and Civil Defence Corps, and the Lagos State Neighbourhood Safety Corps stationed at key entry points.
Members of the state executive council, local government officials, traditional rulers, and other dignitaries attended the session, presided over by Speaker Mudashiru Obasa.
Sanwo-Olu began his presentation of the “Budget of Shared Prosperity” at approximately 1:25 p.m.
“Our mission remains clear, to eradicate poverty and build a Lagos that works for all,” the governor said.
He highlighted that the 2026 proposal rests on four strategic pillars: a human-centred approach, modern infrastructure, a thriving economy, and good governance.
If approved, the N4.237 trillion proposal would mark a major increase in Lagos’ annual appropriation, rising from N1.1 trillion in 2021 to the current figure, reflecting growth of N3.074 trillion over five years.
The state’s budgets have steadily increased under Sanwo-Olu’s administration, moving from N1.75 trillion in 2022, N1.76 trillion in 2023, N2.26 trillion in 2024, to N3.366 trillion in 2025.
The governor emphasised that the 2026 budget builds on ongoing development initiatives and reaffirmed his commitment to completing existing projects.
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“We remain determined to complete all ongoing projects,” Sanwo-Olu said, adding that the proposal demonstrates a collective belief in Lagos’ continued growth and progress.
