The Governor of Lagos State, Babajide Sanwo-Olu, presented the Y2026 Budget to the Lagos State House of Assembly on Tuesday, November 25th, 2025, for a thorough analysis.
The “Budget of Shared Prosperity” budget aims to end poverty and create a safer, more prosperous Lagos. It is based on four key strategic pillars: improved infrastructure, human-centered approach, and effective governance.
Hon. House Committee on Economic Planning and Budget, Chairman, provides insights into the proposed spending plan. The Y2026 Budget is intended to consolidate the progress made since Governor Sanwo-Olu took office in 2019, according to Sa’ad Olumoh.
He emphasized that “the budget will manage all ongoing projects so that no one moves them to the upcoming administration.”
Additionally, Olumoh urged members to carefully examine the recommendations of all MDAs before submitting them to the Committee on Economic Planning and Budget.
Greeting the House leadership, the Majority Leader, and Hon. Noheem Adams noted that Lagos State’s expanding competence and capacity are reflected in the budget.
He continued, stating that responsible and long-term planning are demonstrated by governments that prioritize capital expenditure. Once approved, he claims that the state’s economy will benefit significantly from the Y2026 Budget.
Hon., you are contributing. In light of the State’s recent increase in Internally Generated Revenue (IGR) to 70%, Ajomale Oladipo expressed concern about the new tax reforms and their potential impact on budget performance.
Hon. The “Shared Prosperity” budget, according to Desmond Elliot, will be able to meet the needs of Lagosians. He urged the House to prioritize infrastructure development, particularly state-wide inner roads. Additionally, he demanded better environmental sanitation.
Hon . In response to emerging security issues facing both the State and the country as a whole, Oscar Foluke pleaded for more funding for the security sector.
Hon. Deputy Majority Leader made his remarks. The appropriation details must be thoroughly examined to ensure they are in line with the budget’s intended objectives, according to Adamola Richard Kasunmu. Additionally, he urged increased funding for the education sector to ensure the state’s youth had a better future.
Hon . Bonu Solomon emphasized the value of supporting the State’s internal revenue growth by investing in tourism and infrastructure development.
Source: Channels TV
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