Governor Babajide Sanwo-Olu on Tuesday presented a ₦4.237 trillion Appropriation Bill for the 2026 fiscal year to the Lagos State House of Assembly, describing it as an ambitious and future-driven financial plan designed to strengthen his administration’s legacy in its final full year. Tagged the Budget of Shared Prosperity, the proposal reflects the state’s optimism about expanding economic opportunities, deepening development, and maintaining Lagos’ position as Africa’s leading megacity.
Sanwo-Olu explained that the government expects about ₦3.99 trillion in total revenue—largely driven by strong internally generated revenue projections alongside expected federal transfers—leaving a deficit of slightly over ₦243 billion. For 2026, capital spending stands marginally higher than recurrent spending, with significant resources channelled into infrastructure, social services, and essential government functions. Recurrent expenditure covers overheads, personnel commitments, and debt obligations.
The governor highlighted how the budget allocates substantial funding to key sectors such as health, education, housing, the environment, economic affairs, public order and safety, and other critical social services. He emphasized that 2026 is particularly important because it represents the last full year of his administration, making it a crucial period for consolidating achievements, completing ongoing and newly launched projects, and ensuring a strong finish.
Sanwo-Olu reaffirmed his administration’s dedication to citizen-centered governance and promised that projects and policies would continue to reflect the needs and aspirations of Lagosians. According to him, Lagos is stepping into a phase of accelerated impact driven by intentional investment in infrastructure, human capital, social welfare, and governance systems. He concluded by appreciating the Lagos State House of Assembly for its support and the civil service for its commitment to turning government plans into visible progress.
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