Governor Babajide Sanwo-Olu on Tuesday laid earlier than the Lagos State Home of Assembly a N4.237 trillion Appropriation Invoice for the 2026 fiscal 12 months, describing it as an formidable, future-driven monetary plan geared toward solidifying his administration’s legacy in its ultimate full 12 months.

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Presenting the proposal, titled the “Budget of Shared Prosperity,” the governor stated it displays the collective optimism that Lagos will proceed to develop alternatives, strengthen its management position, and reinforce its standing as Africa’s foremost megacity.

Sanwo-Olu disclosed that the budget tasks complete income of N3,993,774,552,141, comprising N3.12 trillion in Internally Generated Income and N874 billion in anticipated Federal Transfers. The funding construction, he famous, leaves a deficit financing requirement of N243,332,457,167.

For the 2026 fiscal 12 months, capital expenditure is about at N2,185,085,419,495, whereas recurrent expenditure stands at N2,052,021,589,812. He defined that the recurrent element covers overheads, personnel prices, and debt obligations.

A breakdown of recurrent spending exhibits complete overhead prices of N1,084,245,843,091, together with basic overheads, subventions and devoted expenditures, whereas personnel prices quantity to N440,494,339,384. Recurrent debt fees are projected at ₦143,876,701,943, with debt repayments estimated at N383,404,705,394.

Sanwo-Olu additionally outlined the sectoral distribution of the 2026 budget. Common Public Providers will obtain N847,472,071,966; Public Order and Security, N147,040,088,897; and Financial Affairs, N1,372,307,808,626. The Surroundings Ministry is allotted N235,957,235,138, whereas Housing receives N123,760,310,429.

The Well being sector is earmarked N338,449,258,945; Schooling will get N249,132,921,287; Social Safety, N70,024,171,038; and the Recreation and Tradition sector will take N54,682,339,586.

The governor stated the 12 months 2026 carries particular weight because the final full calendar 12 months of his administration, describing it as a interval essential for consolidating achievements and making certain a “robust, profitable end.”

He reaffirmed his dedication to finishing all ongoing and newly initiated tasks, including that his administration will proceed to prioritise citizen engagement to guarantee authorities choices mirror the wants of Lagosians.

In accordance to him, Lagos is coming into a brand new part of “accelerated affect,” pushed by sustained funding in infrastructure, human capital, social welfare and governance techniques which can be “intentional, inclusive and future-oriented.”

Sanwo-Olu reiterated his administration’s core mission: “To maintain Lagos safe, to maintain Lagos working, to maintain Lagos rising, and to be certain the prosperity we construct is shared by everybody who calls this centre of excellence residence.”

He recommended the Lagos State Home of Assembly for its constant partnership, describing the lawmakers as steadfast allies within the state’s improvement journey. He additionally praised the civil service for its laborious work in translating authorities imaginative and prescient into measurable progress.