By Sodiq Adelakun
Lagos State Governor, Babajide Sanwo-Olu, on Tuesday presented a proposed N4.237 trillion budget for the 2026 fiscal year to the State House of Assembly, marking a significant step in the state’s development agenda.
Among those present were members of the State Executive Council, local government officials, traditional rulers, and other dignitaries attended the session presided over by Speaker Rt. Hon. Mudashiru Obasa.
Tagging the budget “Budget of Shared Prosperity,” Sanwo-Olu said the proposal aims to build a Lagos that benefits all residents, emphasizing the government’s mission to eradicate poverty and foster inclusive growth.
He highlighted the budget’s four strategic pillars: human-centred development, modern infrastructure, a thriving economy, and good governance.
The governor noted that Lagos’ annual budget has grown from N1.1 trillion in 2021 to the current proposal of N4.237 trillion, reflecting a N3.074 trillion increase over five years.
He reassured Lagosians of the government’s commitment to completing ongoing projects and sustaining development foundations.
Sanwo-Olu described the budget as a reaffirmation of confidence in Lagos’ continued rise as Nigeria’s economic hub, promising that the allocation will drive key sectors, strengthen infrastructure, and improve the welfare of all residents.
