The Lagos State House of Assembly, at a well-attended plenary session, formally received the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, as he presented the \u20a64.237 trillion Y2026 Appropriation Bill themed \u201cBudget of Shared Prosperity.\u201d The presentation marks a significant milestone as it represents the final full-year fiscal plan of the current administration.<\/p>\n\n\n\n
Presiding over the session, the Speaker, Rt. Hon. (Dr.) Mudashiru Ajayi Obasa, underscored the importance of the 2026 budget to the State\u2019s long-term development agenda.<\/p>\n\n\n\n
He stated:
\u201cWe are here to receive the Y2026 Appropriation Bill of \u20a64.237 trillion, themed Budget of Shared Prosperity. I extend my sincere appreciation to Mr. Governor, Mr. Babajide Sanwo-Olu, and his team for crafting a comprehensive budget that aligns with Lagos\u2019 aspirations for sustainable growth and development.\u201d<\/p>\n\n\n\n
The Speaker noted that the budget places priority on critical sectors such as healthcare, education, transportation, security, and good governance\u2014areas vital to sustaining Lagos\u2019 position as Africa\u2019s leading economic hub.<\/p>\n\n\n\n
He added:
\u201cYou have maintained a track record of resourceful consistency, steering our State through economic challenges while driving infrastructure development.\u201d<\/p>\n\n\n\n
Speaker Obasa also acknowledged major national gains under President Bola Ahmed Tinubu\u2019s administration, including Nigeria\u2019s removal from the FATF grey list and the IMF\u2019s confirmation of the country\u2019s cleared debt obligations\u2014progress he said has strengthened the nation\u2019s economic landscape and, by extension, Lagos\u2019 fiscal outlook.<\/p>\n\n\n\n
During his address, Governor Sanwo-Olu reaffirmed the intent of the fiscal proposal and the administration\u2019s commitment to inclusive, people-focused governance.<\/p>\n\n\n\n
He declared:
\u201cI stand before you today with a great sense of purpose to present the last full-year budget of our administration, the Year 2026 Appropriation Bill, aptly named \u2018The Budget of Shared Prosperity.\u2019\u201d<\/p>\n\n\n\n
The Governor emphasised Lagos\u2019 growing prominence on the continent:
\u201cToday, our Lagos stands tall as a continental economic powerhouse\u2014Africa\u2019s second-largest city economy after Cairo. This status is no accident; it is the product of consistency, productivity, and the unyielding Lagos spirit.\u201d<\/p>\n\n\n\n
He further outlined the vision for 2026:
\u201cOur mission remains clear: to eradicate poverty, expand opportunity, and build a Lagos that works for everyone\u2014safe, secure, functional, and productive.\u201d<\/p>\n\n\n\n
Reinforcing the guiding principles of the proposal, he added:
\u201cOur vision continues to guide every fiscal decision we make\u2014to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality.\u201d<\/p>\n\n\n\n
Governor Sanwo-Olu explained that the budget is anchored on four pillars\u2014A Human-Centred Approach, Modern Infrastructure, A Thriving Economy, and Effective Governance\u2014all aligned with the enhanced T.H.E.M.E.S+ Agenda.<\/p>\n\n\n\n
He concluded by stating:
\u201cThe Year 2026 Appropriation Bill is a reaffirmation of our collective belief that Lagos can continue to rise, continue to lead, and continue to create opportunities for every resident of Africa\u2019s preferred megacity.\u201d<\/p>\n\n\n\n
In his closing remarks, Speaker Obasa assured Lagosians that the Assembly will conduct a thorough review of the proposal.<\/p>\n\n\n\n
He stated:
\u201cNow that the presentation has been made, this Honourable House will meticulously perform its constitutional duty to ensure that the budget serves the collective interest of all Lagosians.\u201d<\/p>\n\n\n\n
Lagos State House of Assembly reaffirmed its commitment to collaborate with the Executive to ensure that the 2026 fiscal year accelerates inclusive development, infrastructure expansion, and improved service delivery across the State.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Lagos State House of Assembly, at a well-attended plenary session, formally received the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, as he presented the \u20a64.237 trillion Y2026 Appropriation Bill themed \u201cBudget of Shared Prosperity.\u201d The presentation marks a significant milestone as it represents the final full-year fiscal plan of the current administration. Presiding…<\/p>\n","protected":false},"author":21,"featured_media":11655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72,74],"tags":[],"class_list":["post-11654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-press-release","category-press-release"],"_links":{"self":[{"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts\/11654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/comments?post=11654"}],"version-history":[{"count":1,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts\/11654\/revisions"}],"predecessor-version":[{"id":11656,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts\/11654\/revisions\/11656"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/media\/11655"}],"wp:attachment":[{"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/media?parent=11654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/categories?post=11654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/tags?post=11654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}