Lagos State Governor, Babajide Sanwo-Olu, on Tuesday presented the 2026 Budget Estimates to the Lagos State House of Assembly, describing it as a landmark financial plan and the final full-year budget of his administration.
Tagged the “Budget of Shared Prosperity,” the ₦4.237 trillion proposal is anchored on the State’s THEMES+ agenda and seeks to deepen access to essential services, strengthen key systems, and accelerate infrastructural growth across Lagos.
Governor Sanwo-Olu revealed that the budget is underpinned by a projected revenue of ₦3.994 trillion, leaving a financing gap of ₦243.33 billion, which he assured would be responsibly managed.
Key Allocations
1. Human-Centred Development
Focus on people through education, healthcare, and social welfare:
- Education: ₦249.13bn
- Health: ₦338.45bn
- Social Protection: ₦70.02bn
2. Modern, Integrated Infrastructure
Investment in transport networks (roads, rail, waterways), power, and digital systems:
- Economic Affairs (transport, works, infrastructure): ₦1.372tn
3. Thriving, Competitive Economy
Support for MSMEs, startups, tourism, agribusiness, manufacturing, and the creative sector:
- Environment: ₦235.96bn
- Recreation: ₦54.68bn
4. Effective Governance
Strengthening fiscal systems, e-governance, public safety, and responsive public service:
- General Public Services: ₦847.47bn
- Public Order and Safety: ₦147.04bn
Capital vs Recurrent Expenditure
- Capital projects: ₦2.185 trillion
- Recurrent expenditure (personnel, overheads, and other obligations): ₦2.052 trillion
Governor Sanwo-Olu noted that the 2026 budget builds on progress made in 2025 across education, healthcare, transportation, housing, technology, environment, and public safety.
Reaffirming his commitment as the administration enters its final full year, he pledged to keep Lagos secure, functional, and prosperous, and expressed gratitude to the State House of Assembly, civil servants, party leaders, and the people of Lagos.
“Together, we will continue building a Lagos that is safer, cleaner, more prosperous, and more inclusive than ever before,”
Governor Sanwo-Olu said.
