Lagos State House of Assembly unanimously passes ₦4.44 trillion 2026 budget on January 8, 2026, with over 52% dedicated to capital projects in infrastructure, education, healthcare, and economic growth.
Lagos House of Assembly Approves ₦4.44 Trillion 2026 Budget: 52%+ for Infrastructure, Education & Health
In a landmark move to accelerate development, the Lagos State House of Assembly has approved a record-breaking ₦4,444,509,776,438 (Four Trillion, Four Hundred and Forty-Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty-Eight Naira) budget for the 2026 fiscal year.
The approval came during a plenary session on Thursday, January 8, 2026, after the House Committee on Economic Planning and Budget, chaired by Hon. Sa’ad Olumoh, presented its comprehensive report. Presided over by Speaker Rt. Hon. Mudashiru Obasa, the lawmakers adopted the report via voice vote, reflecting unanimous support for the ambitious financial blueprint.
The 2026 budget, themed around sustainable and inclusive growth, allocates more than 52% to capital expenditure. Key priority areas include massive investments in infrastructure, education, healthcare, economic diversification, and social welfare programs—aimed at enhancing quality of life and reinforcing Lagos State’s status as Africa’s leading economic powerhouse.
Following the passage, Speaker Obasa directed the Clerk of the House, Barr. Olalekan Onafeko, to forward a clean copy of the approved Appropriation Bill to Governor Babajide Sanwo-Olu for assent. He praised the lawmakers for their dedication, teamwork, and swift action in delivering the budget on time.
The approved figure represents an increase from the initial proposal of ₦4.23 trillion presented by Governor Sanwo-Olu on November 25, 2025, which he christened the “Budget of Shared Prosperity.” At the presentation, the governor emphasised that the fiscal plan is designed to cement Lagos as a premier hub for innovation, investment, and social progress across the continent.
With the budget now cleared by the legislature, all eyes are on Governor Sanwo-Olu’s assent, which will unlock funding for transformative projects expected to shape Lagos State’s development trajectory in 2026 and beyond.
