…achieves 85% budget performance
By Imisioluwa Afunmiso
The Lagos State Government has disclosed that it earmarked ₦1.467tn for infrastructure projects in the state.
Speaking during the 2026 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja, the Commissioner for Economic Planning and Budget, Ope George stated that the budget reflects the administration’s commitment to sustainable economic growth and improved living standards for residents.
He noted that the ₦4.444 trillion 2026 “Budget of Shared Prosperity” is designed to deepen infrastructure development, drive economic diversification, improve housing delivery, and strengthen social development across the state.
Highligting key components of the budget, he said the budget comprises #2.338 trillion in capital expenditure and ₦2.106 trillion in recurrent expenditure, representing a 53:47 capital-to-recurrent ratio.
This allocation aims to accelerate development projects across key sectors, with ₦1.467 trillion specifically earmarked for critical infrastructure spanning transportation, healthcare, education, and public works.
George further explained that strategic projects, such as the Opebi-Mende Link Bridge and the Eti-Osa/Lekki/Epe Expressway Phase IIB are expected to reduce traffic congestion and stimulate economic activity.
The Opebi-Mende Link Bridge, in particular, will provide an alternative route connecting residential areas like Mende and Maryland to Ikeja, easing pressure on heavily congested routes such as Kudirat Abiola Way and Mobolaji Bank Anthony Way.
Regarding housing delivery, he noted that the administration is prioritizing the completion of several schemes targeted at low- and middle-income earners.
To drive economic diversification, he added that ₦87 billion has been allocated to food security initiatives, including the Lagos Wholesale Produce Hub while ₦35 billion has been set aside for tourism infrastructure, such as the Badagry Point of No Return and the Lagos Heritage Centre.
On performance, George revealed that Lagos achieved an 84% budget performance in 2025.
He projected a first-quarter performance for 2026 of between 60% and 70%, attributing this to the typical fiscal cycle where capital projects gather momentum after initial recurrent obligations such as salaries, pensions, and debt servicing are settled.
The commissioner reaffirmed the Ministry’s commitment to prudent fiscal management and people-oriented policies to sustain Lagos’ position as a globally competitive state.