Lagos State Governor Babajide Sanwo-Olu has presented a ₦4.237 trillion budget proposal for 2026 to the Lagos State House of Assembly, describing it as a bold financial roadmap for the final full year of his administration. The “Budget of Shared Prosperity” projects ₦3.99 trillion in revenue — driven largely by ₦3.1 trillion Internally Generated Revenue and ₦874 billion in Federal Transfers — leaving a deficit of ₦243.3 billion.
The proposal includes ₦2.18 trillion for capital expenditure and ₦2.05 trillion for recurrent spending covering overheads, personnel, and debt obligations. Key allocations include ₦1.37 trillion to Economic Affairs, ₦847.4 billion to General Public Services, ₦338.4 billion to Health, ₦249.1 billion to Education, and ₦235.9 billion to Environment.
Sanwo-Olu said the 2026 fiscal year is crucial for consolidating his administration’s legacy and completing major projects.
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