The Governor of Lagos State, Gov. Babajide Olusola Sanwo-Olu today presented the Year 2026 annual budget plan to the Lagos House of Assembly. The budget themed Budget of Total Prosperity is valued at over NGN 4 trillion. The budget proposal is roughly 50-50 for capital and recurrent expenditure.
Gov. Babajide Olusola Sanwo highlighted: ‘Today, I presented the 2026 Budget Estimates to the Lagos State House of Assembly. 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.’
‘The 2026 Budget of Shared Prosperity totals ₦4.237 trillion. It is supported by a projected revenue of ₦3.994 trillion, leaving a financing gap of ₦243.33 billion that we will manage responsibly. This budget is all about making life better for Lagosians. It is about deepening access to essential services, strengthening our systems, completing critical infrastructure, and ensuring that the benefits of our prosperity agenda reach more people across the State.’
He added: ‘Lagos continues to grow, stronger, more competitive, and more inclusive every day. The progress we made in 2025 across education, healthcare, transportation, housing, technology, the environment, and public safety forms the foundation of this new budget.’
Expanding on the budget, Gov. Sanwo-Olu said: ‘The 2026 budget is anchored on four main pillars that strategically aligns with our evolved THEMES+ agenda. Let me take you through them.
1. A Human-Centred Lagos: We are expanding access to quality education, improving healthcare, and deepening social protection. This year, our allocations clearly reflect these priorities:
• Education: ₦249.13 billion
• Health: ₦338.45 billion
• Social Protection: ₦70.02 billion
2. Modern, Integrated Infrastructure: This year, our focus is not just on building infrastructure, but on connecting it, making roads, rail, waterways, power, and digital systems work together. Key allocations include:
• Economic Affairs (transport, works, infrastructure): ₦1.372 trillion
3. A Thriving, Competitive Economy: We are putting more energy into supporting MSMEs, startups, agribusiness, manufacturing, tourism, and the creative economy. This budget includes:
• Environment: ₦235.96 billion
• Recreation: ₦54.682 billion
4. Effective Governance: Good governance is at the heart of everything we do. We are strengthening fiscal systems, expanding e-governance, improving security, and building a more responsive public service. Allocations in this area include:
• General Public Services: ₦847.47 billion
• Public Order and Safety: ₦147.04 billion
Of the ₦4.237 trillion budget, ₦2.185 trillion is set aside for capital projects, while ₦2.052 trillion covers recurrent expenditure, including the everyday running of the state and our financial obligations.
As we enter the final full year of this administration, my commitment remains clear, to keep Lagos secure, to keep Lagos working, and to ensure that growth and prosperity touch every resident.
I am grateful to the Lagos State House of Assembly, our hardworking civil service, our party leadership, and above all, to the people of Lagos. Your support and your expectations guide everything we do.
Together, we will continue building a Lagos that is safer, cleaner, more prosperous, and more inclusive than ever before.
Thank you, Lagos. Let’s keep moving forward.