Lagos 2026 budget prioritises healthcare, education, and infrastructure to enhance growth and improve residents’ quality of life

The Lagos 2026 budget has been hailed as a pivotal step in sustaining the city’s status as Africa’s leading economic hub, Speaker of the Lagos State House of Assembly, Rt. Hon. Dr. Mudashiru Ajayi Obasa, stated on Tuesday.

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Delivering his remarks during Governor Babajide Sanwo-Olu’s presentation of the Appropriation Bill at the Assembly chamber, Obasa praised the governor for crafting a “comprehensive budget that aligns with Lagos’ aspirations for growth and development.”

The event was attended by state executives, traditional rulers, political and party leaders, captains of industry, and members of the Diplomatic Corps.

“You have maintained a track record of resourceful consistency, steering our state through economic challenges while driving infrastructure development,” Obasa said.

“Not long ago, you brought the E1 Racing Championship to Lagos, making it the first African city to host such a prestigious event.”

The Speaker emphasised the legislature’s role in complementing the executive’s initiatives by enacting laws that enhance socio-economic growth, local government reform, and institutional development.

He cited the approval of a ₦125 billion bond and the Smart Solar All-in-One Streetlight Project as examples of productive collaboration between the Assembly and the executive.

Obasa also commended the Renewed Hope Agenda of President Bola Ahmed Tinubu, highlighting strides in national infrastructure, improved economic confidence, and Nigeria’s recent delisting from the Financial Action Task Force grey list.

He lauded First Lady, Senator Oluremi Tinubu, for her initiatives promoting women’s economic empowerment and education, including the distribution of sanitary pads to schoolgirls nationwide and the Oluremi@65 Education Fund.

Governor Sanwo-Olu, presenting the budget themed “Budget of Shared Prosperity,” revealed a total proposal of ₦4.237 trillion, with internally generated revenue of ₦3.993 trillion and a modest deficit financing of ₦243.332 billion.

Anchored on four pillars—human-centred development, modern infrastructure, a thriving economy, and good governance—the budget is designed to eradicate poverty and expand opportunities for all Lagos residents.

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“Our mission remains clear: to eradicate poverty and build a Lagos that works for everyone,” the governor said, underlining the budget’s role as a roadmap for continuity, resilience, and shared prosperity.