By Ayomide Otitoju
The Lagos State House of Assembly has passed the ₦4.44 trillion 2026 budget, tagged the “Budget of Shared Prosperity,” into law.
The appropriation, approved on Thursday, places strong emphasis on infrastructure development, education, healthcare, economic growth and social development, with more than 52 per cent of the total allocation earmarked for capital expenditure to promote inclusive growth across the state.
Presenting the report on the floor of the House, Chairman of the 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.
Following the passage, Speaker of the House, Mudashiru Obasa, directed the Clerk of the Assembly, Olalekan Onafeko, to transmit a clean copy of the budget to Governor Babajide Sanwo-Olu for assent.
Governor Sanwo-Olu had presented the 2026 Appropriation Bill to the lawmakers on Tuesday, November 25, 2025. The bill was subsequently referred to the Committee on Appropriation, alongside other standing committees serving as sub-committees, for detailed scrutiny of budget proposals from Ministries, Departments and Agencies (MDAs).
Meanwhile, the Lagos State Harmonised Taxes and Levies (Approved List for Collection) Bill 2025 and the Registration of Lis Pendens Bill 2024 were read for the first time on the floor of the House.
