The Governor of Lagos State, Mr Babajide Sanwo-Olu, on Monday signed the 2026 appropriation bill of N4.45 trillion into law.
At the signing ceremony in Alausa, Ikeja in the presence of his deputy, Mr Femi Hamzat, the Governor thanked the Lagos State House of Assembly, led by the Speaker, Mr Mudashiru Obasa, for passing the 2026 budget christened Budget of Shared Prosperity.
He said though the appropriation bill was increased from N4.2 trillion to N4.45 trillion, this only showed the independence of the parliament, promising that the executive arm of government will accountably implement the bill.
“On behalf of the people and the government of Lagos State, let me thank the House of Assembly. This is a budget that you have had your full input into, you have scrutinized, you have dissected, and you have taken your time to do the very constitutional provision, which is enshrined in our constitution. I want to thank you for the work you have done.
“You will notice that there is a slight increase from what we put forward, but that goes to show that the independence that you have, and the fact that you believe that Lagosians actually also deserve more, and the fact that you believe that we also can do more. So we’re excited and we’re happy with the way that you have brought it forward here to us.
“For us in the executive, it is another opportunity for us to be able to work together. It is a budget of shared prosperity that has been properly christened, and sharing prosperity means that it’s an inclusive government, it’s a budget that must carry everybody along irrespective of what part of the state, what division in the state, what sector you are from you must feel governance, you must feel the essence of why we’re in government in one form or the other,” Mr Sanwo-Olu said.
The Speaker, represented by the Majority leader of the Lagos Assembly, Mr Noheem Adams, praised the Governor for his people-oriented policies.
Business Post recalls that on November 25, 2025, Mr Sanwo-Olu presented a proposed to spend N4.237 trillion this year, higher than the N3.366 trillion approved for 2025.
But the lawmakers increased the budget to N4.445 trillion and passed it on January 8, 2026, and transmitted to the Governor for assent.