The Lagos State House of Assembly has approved a budget of 4,444,509,776,438 for the year 2026, marking a significant step towards achieving sustainable development in the state. This approval was made during a plenary session presided over by Speaker Hon. Mudashiru Obasa on Thursday.
The decision followed the presentation of a comprehensive report by the Chairman of the House Committee on Economic Planning and Budget, Hon. Sa’ad Olumoh. The report was adopted through a voice vote, with the lawmakers unanimously supporting the approval of the budget. According to Speaker Obasa, the budget’s passage is aimed at driving development and growth in the state.
The approved budget exceeds the initial proposal of 4.23 trillion presented by Governor Babajide Sanwo-Olu to the House on November 25, 2025. The Governor is expected to assent to the budget bill shortly, paving the way for its implementation.
Speaker Obasa has directed the Clerk of the House, Barrister Olalekan Onafeko, to transmit a clean copy of the approved bill to Governor Sanwo-Olu for his signature. This move is seen as a crucial step towards ensuring that the state’s development plans are set in motion.
The approval of the budget is a significant milestone for the state, as it outlines the government’s spending plans and priorities for the upcoming year. The budget is expected to cater to various sectors, including infrastructure, education, healthcare, and social services, among others.
With the budget’s approval, the state government can now proceed with implementing its development plans, which are expected to have a positive impact on the lives of Lagos residents. The Governor’s assent to the budget bill is eagerly anticipated, as it will mark the beginning of a new phase of development in the state.
