Governor Babajide Sanwo-Olu of Lagos State has presented a proposed N4.2 trillion budget for the 2026 fiscal year to the Lagos State House of Assembly.
The proposed budget represents a significant rise in the state’s annual spending, reflecting an increase of more than N3 trillion over the past five years.
Historical budget data shows that Lagos State’s appropriation has grown steadily under Governor Sanwo-Olu, rising from N1.1 trillion in 2021 to the current proposal of N4.2 trillion for 2026 — a cumulative increase of N3.074 trillion.
The state’s budgets increased to N1.75 trillion in 2022, N1.76 trillion in 2023, and N2.26 trillion in 2024. In 2025, Lagos surpassed the N3 trillion mark with a N3.366 trillion budget, paving the way for the proposed N4.237 trillion plan for 2026.
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The new budget is expected to accommodate expanded public service programs, infrastructure development, and other key priorities of the state government.
The 2026 Budget of Shared Prosperity is anchored on four strategic pillars: Human-centered approach, modern infrastructure, building a thriving economy and effective governance.
Governor Sanwoolu reiterated that It will focus on expanding access to healthcare delivery, affordable housing for all, and urban renewal.
The Governor said his mission remains clear, to build a Lagos that works for everyone, a Lagos that is safer, secure, functional and productive.
This is the last full-year budget of Babajide Sanwo-Olu’s administration.
