January 19, (THEWILL) — Lagos State Governor, Babajide Sanwo-Olu, on Monday, signed into law the ₦4.4 trillion 2026 Appropriation Bill, setting the fiscal and development agenda for Africa’s largest sub-national economy in the coming year.
The signing ceremony was held at the Conference Room of Lagos House, Alausa Secretariat, Ikeja, following the passage of the budget by the Lagos State House of Assembly in January.
The law authorises a total expenditure of ₦4,444,509,776,438 for the 2026 fiscal year.
Those present at the event included Deputy Governor, Dr Obafemi Hamzat; members of the State Executive Council; Head of Service, Mr Bode Agoro; lawmakers of the Lagos State House of Assembly; and other senior government officials.
Speaking earlier while presenting the budget proposal to the Assembly in November 2025, Sanwo-Olu said the appropriation, christened “Budget of Shared Prosperity” was designed to drive inclusive growth, expand opportunities, and ensure that development outcomes are felt by residents across all sectors of the state.
“Our mission remains clear: to eradicate poverty and build a Lagos that works for all. Our vision continues to guide every fiscal decision we make — to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality”, the governor said.
He explained that the 2026 budget is anchored on four core pillars — human-centred development, modern infrastructure, a vibrant economy, and effective governance. The four core pillars align with the state’s development blueprint, the T.H.E.M.E.S+ Agenda.
Sanwo-Olu expressed confidence that the implementation of the budget would further strengthen economic growth, improve service delivery, and enhance the overall quality of life for Lagos residents.
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