Governor Babajide Sanwo-Olu on Tuesday presented the 2026 Budget Estimates to the Lagos State House of Assembly, unveiling a record ₦4.237 trillion spending plan that he described as the final full-year budget of his administration and a blueprint for deepening prosperity across the state.

The proposal, tagged “Budget of Shared Prosperity,” is supported by projected revenues of ₦3.994 trillion, leaving a financing gap of ₦243.33 billion to be managed responsibly. Sanwo-Olu emphasized that the plan prioritizes improved access to essential services, completion of critical infrastructure, and expansion of opportunities for Lagosians.

Of the total allocation, ₦2.185 trillion is earmarked for capital projects, while ₦2.052 trillion will cover recurrent expenditure, including the day-to-day running of government and financial obligations. The governor noted that progress achieved in 2025 across education, healthcare, transportation, housing, technology, environment, and public safety provides the foundation for the new budget.

“This moment is very meaningful. It is the final full-year budget of our administration, and it reminds me of the journey we have taken together and the future we are still building for every Lagosian,” Sanwo-Olu said. “Every kobo will be prudently utilised, and our commitment remains clear: to keep Lagos secure, to keep Lagos working, and to ensure that growth and prosperity touch every resident.”

Receiving the proposal, Rt. Hon. Mudashiru Obasa, Speaker of the Lagos State House of Assembly, commended the administration’s ongoing transformation projects and assured that the Assembly would give the budget thorough scrutiny.

The 2026 budget, the largest in Lagos State’s history, comes as Sanwo-Olu enters the final stretch of his tenure. Informed observers say the capital-heavy allocation reflects his determination to complete flagship projects and entrench reforms that will shape Lagos beyond his administration.