Lagos Assembly Approves N4.445tn Revised Budget for 2026

The Lagos State House of Assembly approved the 2026 Budget Reordering Bill, increasing the state's total budget to N4.445 trillion. Governor Babajide Sanwo-Olu presented the bill, which was passed on Tuesday after the House reviewed the report from its Committee on Economic Planning and Budget, chaired by Olumoh Sa’ad.

The committee indicated that the budget reordering was essential to rectify disparities in capital project implementation among Ministries, Departments, and Agencies (MDAs). As of June 30, 2026, the state recorded a 69% overall budget performance, with recurrent revenue at 79%, recurrent expenditure at 73%, and capital expenditure at 66%.

The reordering will enable the government to focus resources on priority projects, including transportation infrastructure, hospital completions, housing, environmental sanitation, security, and emergency equipment. The revised recurrent expenditure is set at N2.077 trillion, while capital expenditure is increased to N2.368 trillion, ensuring critical projects receive adequate funding.

The Speaker of the House, Mudashiru Obasa, conducted the vote that led to the bill's passage.