The Lagos State House of Assembly has approved the ₦4.4 trillion 2026 Appropriation Bill, christened the “Budget of Shared Prosperity,” after weeks of detailed scrutiny and sector-by-sector assessment by lawmakers.
The newly passed budget places strong emphasis on infrastructure, education, healthcare, economic expansion and social development, reflecting the state government’s resolve to drive inclusive and sustainable growth.
An analysis of the approved figures indicates that more than 52 per cent of the total expenditure is allocated to capital projects, highlighting the government’s focus on long-term development and the expansion of critical infrastructure across Lagos State.
Reacting to the passage of the bill, Speaker of the House, Mudashiru Obasa, said the legislature was deliberate in ensuring that the 2026 budget aligns with the needs of the people and supports development priorities.
He stated, “The 2026 Appropriation Bill was thoroughly examined by the House to ensure that it reflects the yearnings and aspirations of Lagosians. Our focus was to prioritise projects and programmes that will drive inclusive growth, strengthen infrastructure and improve the overall welfare of our people.”
Obasa further noted that the significant allocation to capital expenditure is expected to fast-track development and stimulate economic activities across key sectors of the state.
“With over 52 per cent of the budget dedicated to capital expenditure, the House is confident that this budget will fast-track development in critical sectors such as transportation, education, healthcare and housing, while opening up new economic opportunities for residents,” he added.
The capital spending, according to the Speaker, will be directed toward the completion of ongoing road and transportation projects, expansion of healthcare and educational facilities, housing initiatives and other strategic programmes aimed at enhancing service delivery and productivity.
He also assured residents that the House would not relent in its oversight role to ensure effective and transparent implementation of the budget.
“The House of Assembly will continue to exercise rigorous oversight to ensure that every naira appropriated is judiciously utilised and that ministries, departments and agencies deliver tangible results that will positively impact the lives of Lagosians,” he stated.
During deliberations, several lawmakers stressed that increased funding for education and healthcare would boost human capital development, while social development initiatives included in the budget would provide support for vulnerable groups and encourage social inclusion.
The approval of the 2026 Appropriation Bill represents a major step in Lagos State’s development drive, as the government aims to consolidate economic progress, attract private sector investment and promote shared prosperity.
The bill will now be forwarded to the Governor for assent, paving the way for the full implementation of the 2026 fiscal plan.
