The Lagos State House of Assembly has passed the ₦4.44 trillion ‘Shared Prosperity’ budget for 2026 into law.
The budget, approved on Thursday, prioritises infrastructure, education, healthcare, economic growth, and social development, with over 52% allocated to capital projects aimed at driving inclusive growth across the state.
Presenting the report on the floor, the Chairman of the Committee on Economic Planning and Budget, Olumoh Lukmon, said the approved budget comprises ₦2.11 trillion for recurrent expenditure and ₦2.34 trillion for capital projects.
Following the approval, Speaker Mudashiru Obasa directed the Clerk of the House, Olalekan Onafeko, to forward a clean copy of the budget to Governor Babajide Sanwo-Olu for assent.
Governor Sanwo-Olu had presented the 2026 Appropriation Bill to the House on Tuesday, 25 November 2025. The bill was subsequently committed to the Committee on Appropriation, alongside other standing committees acting as sub-committees, for detailed scrutiny of proposals from various Ministries, Departments, and Agencies (MDAs).
In a separate development, the House also read for the first time the Lagos State Harmonized Taxes and Levies (Approved List for Collection) Bill 2025 and the Registration of LIS Pending Bill 2024.
