Lagos State Governor, Babajide Sanwo-Olu, on Monday (today) signed the ₦4.4tn 2026 Appropriation Bill into law, giving legal backing to the state’s spending plan for the 2026 fiscal year.
The signing ceremony was held at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, with top government officials and lawmakers in attendance.
Naijaonpoint reports that the budget, christened the “Budget of Shared Prosperity,” had earlier been passed by the Lagos State House of Assembly in January following weeks of legislative scrutiny.
The lawmakers approved a bill authorising the issuance and appropriation of a total sum of ₦4,444,509,776,438 for the 2026 fiscal year.
Those present at the signing ceremony included the Deputy Governor, Dr Obafemi Hamzat; members of the State Executive Council; the Head of Service, Mr Bode Agoro; members of the Lagos State House of Assembly; and other key stakeholders in governance.
While presenting the appropriation bill to the House in November 2025, Sanwo-Olu said the budget was deliberately structured to promote prosperity and ensure that the dividends of governance reach all residents of the state.
According to him, the overarching goal of the 2026 budget is to tackle poverty while laying the foundation for sustainable and inclusive development across Lagos.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the Lagos State Governor had said.
Sanwo-Olu further explained that the 2026 budget is anchored on four strategic pillars: a human-centred approach, modern infrastructure, a thriving economy, and effective governance.
He noted that these pillars are fully aligned with the state government’s T.H.E.M.E.S+ Agenda, which continues to guide policy formulation and fiscal decisions.
“Our vision continues to guide every fiscal decision we make—to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality,” the governor stated.