Over 52% of funds earmarked for capital projects to boost infrastructure, education, healthcare, and social development
The Lagos State House of Assembly has officially passed the ₦4,444,509,776,438 2026 budget, themed ‘Shared Prosperity’, into law. The budget, approved on Thursday, emphasizes infrastructure, education, healthcare, economic growth, and social welfare, with more than half of the allocation dedicated to capital projects aimed at fostering inclusive development across the state.
Presenting the report on the Assembly floor, Chairman of the Committee on Economic Planning and Budget, Olumoh Lukmon, stated that the budget comprises ₦2.11 trillion for recurrent expenditure and ₦2.34 trillion for capital projects.
Following the presentation, Speaker Mudashiru Obasa instructed the Clerk of the House, Olalekan Onafeko, to forward a clean copy of the budget to Governor Babajide Sanwo-Olu for assent, finalizing the legislative approval process.
Budget process and next steps
Governor Sanwo-Olu had submitted the 2026 Appropriation Bill to the House of Assembly on Tuesday, 25 November 2025. The bill was referred to the Committee on Appropriation, alongside other standing committees acting as sub-committees, to scrutinize the proposals of various Ministries, Departments, and Agencies (MDAs) under their oversight.
In addition to the budget, 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 PENDENS Bill 2024, signaling ongoing legislative activity on taxation and legal registration reforms.
