The Lagos State House of Assembly has passed the ₦4,444,509,776,438 budget of ‘Shared Prosperity’ for 2026 into law.
The budget, which was passed on Thursday, prioritises infrastructure, education, healthcare, economic growth, and social development, with over 52% allocated to capital projects to drive inclusive growth across the state.
While presenting the report on the floor of the House, the Chairman, Committee on Economic Planning and Budget, Olumoh Lukmon said the approved budget consists of ₦2.11 trillion for recurrent expenditure and ₦2.34 trillion for capital projects.
Speaker Mudashiru Obasa thereafter directed the Clerk of the House, Olalekan Onafeko to forward a clean copy of the budget to Governor Babajide Sanwo-Olu for his assent.
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BREAKING NEWS !
Lagos State’s ₦4.4 trillion 2026 Budget of Shared Prosperity has been passed into law today by the Lagos State House of Assembly.
The budget prioritises infrastructure, education, healthcare, economic growth, and social development, with over 52% allocated to… pic.twitter.com/QIGmMBPZLa
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Sanwo-Olu had on Tuesday, 25th November, 2025 presented the 2026 Appropriation Bill to members of the House of Assembly.
The same was committed to committee on Appropriation with other standing Committees of the House as Sub-Committees for necessary scrutiny of Ministries, Departments and Agencies MDAs proposals under their purview.
Source: Channels TV
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