The Lagos State House of Assembly has passed the ₦4.44 trillion 2026 budget, tagged the Budget of Shared Prosperity, into law. The appropriation bill was approved on Thursday following deliberations by lawmakers in the state capital.
The Chairman of the House Committee on Economic Planning and Budget, Olumoh Lukmon, said the approved budget comprises ₦2.11 trillion for recurrent expenditure and ₦2.34 trillion for capital projects. He noted that more than 52 percent of the budget is dedicated to capital spending.
Lawmakers said the budget prioritises infrastructure, education, healthcare, economic growth, and social development, with the aim of driving inclusive growth across Lagos State. Speaker of the House, Mudashiru Obasa, directed the Clerk, Olalekan Onafeko, to transmit a clean copy to Governor Babajide Sanwo-Olu for assent.
Also Read: Senate Moves to Ban Child Soldiers as Armed Forces Bill Passes Second Reading
Governor Sanwo-Olu had presented the 2026 appropriation bill to the House on November 25, 2025, after which it was referred to the Committee on Appropriation and other standing committees for scrutiny of ministries, departments and agencies.
Leave feedback about this
You must be logged in to post a comment.