Sanwo-Olu Proposes N4.24tn Budget for Lagos in 2026

Lagos State Governor Babajide Sanwo-Olu presented a proposed N4.237 trillion budget for the 2026 fiscal year to the State House of Assembly in Ikeja on Tuesday. He tagged the plan the “Budget of Shared Prosperity” and stressed its aim to wipe out poverty while building a city that serves everyone. The assembly, led by Speaker Mudashiru Obasa, will now scrutinise the details.

The budget sets total expenditure at N4.237 trillion, with capital outlay at N2.185 trillion and recurrent spending at N2.052 trillion. Officials expect revenue of N3.994 trillion, mainly from internal sources worth N3.12 trillion and federal transfers of N874 billion. A deficit of N243 billion will cover the gap.

Sanwo-Olu anchored the plan on four key pillars: a human-centred focus, modern infrastructure, a thriving economy, and strong governance. It aligns with the state’s T.H.E.M.E.S+ agenda to drive growth and welfare.

Sectoral allocations prioritise development and services:

– Economic Affairs: N1.372 trillion
– General Public Services: N847 billion
– Health: N338 billion
– Environment: N236 billion
– Education: N249 billion
– Public Order and Safety: N147 billion
– Housing: N124 billion
– Social Protection: N70 billion
– Recreation: N55 billion

Obasa praised progress in the 2025 budget on health, education, transport, and security. He vowed a thorough review to ensure the new plan boosts resilience, welfare, and lasting infrastructure. “The proposed N4.237tn budget must match Lagosians’ aspirations,” he said.

This ambitious blueprint holds promise for a bustling megacity where opportunities flow to all. Yet families counting on better schools and safer streets watch closely, hoping words turn to real change that lifts everyday lives.