The Lagos State House of Assembly has approved a total budget of \u20a64,444,509,776,438
(Four Trillion, Four hundred and Forty Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty Eight naira) for the 2026 fiscal year.
The approval was granted during a plenary session held on Thursday, January 8, following the presentation of a comprehensive report by the Chairman of the House Committee on Economic Planning and Budget, Hon. Sa\u2019ad Olumoh.<\/p>\n\n\n\n
The session, presided over by the Speaker, Rt. Hon. Mudashiru Obasa, saw lawmakers adopt the report through a voice vote, signaling unanimous support for the financial plan aimed at driving sustainable development across the state.<\/p>\n\n\n\n
The 2026 budget prioritises infrastructure development, education, healthcare, economic growth, and social welfare, with over 52% allocated to capital projects. This strategic allocation underscores the government\u2019s commitment to inclusive growth and improved quality of life for residents of Lagos State.<\/p>\n\n\n\n
Following the passage, Speaker Obasa directed the Clerk of the House, Barr. Olalekan Onafeko, to transmit a clean copy of the approved bill to Governor Babajide Sanwo-Olu for assent. The Speaker commended members of the Assembly for their diligence and collaborative efforts in ensuring the timely passage of the budget.<\/p>\n\n\n\n
It will be recalled that Governor Sanwo-Olu had presented a budget proposal of \u20a64.23 trillion to the House on November 25, 2025, which he termed ‘Budget of Shared Prosperity.”<\/p>\n\n\n\n
The governor declared then that the budget reflects Lagos State\u2019s vision to strengthen its position as a leading economic hub in Africa through robust investments in critical sectors that foster growth, innovation, and social progress.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Lagos State House of Assembly has approved a total budget of \u20a64,444,509,776,438(Four Trillion, Four hundred and Forty Four Billion, Five Hundred and Nine Million, Seven Hundred and Seventy-Six Thousand, Four Hundred and Thirty Eight naira) for the 2026 fiscal year.The approval was granted during a plenary session held on Thursday, January 8, following the…<\/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-11685","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\/11685","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=11685"}],"version-history":[{"count":1,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts\/11685\/revisions"}],"predecessor-version":[{"id":11686,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/posts\/11685\/revisions\/11686"}],"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=11685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/categories?post=11685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lagoshouseofassembly.gov.ng\/home\/wp-json\/wp\/v2\/tags?post=11685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}