Sanwo-Olu Signs ₦4.4 Trillion 2026 Lagos Budget Into Law, Sparks Mixed Reactions

Lagos State Governor, Babajide Sanwo-Olu, on Monday, January 19, officially signed the ₦4.4 trillion 2026 appropriation bill into law, marking another major fiscal milestone for Nigeria’s economic nerve centre. The signing ceremony was held at the Lagos House, Alausa Secretariat in Ikeja, with top government officials and lawmakers in attendance.

The Lagos State House of Assembly had earlier passed the budget, tagged the “Budget of Shared Prosperity,” after weeks of deliberation. The lawmakers approved a total expenditure of ₦4,444,509,776,438 for the 2026 fiscal year, making it one of the largest subnational budgets in Nigeria’s history.

Present at the signing ceremony were the Deputy Governor, Dr. Obafemi Hamzat; members of the State Executive Council; the Head of Service, Bode Agoro; principal officers and members of the Lagos State House of Assembly; as well as other key stakeholders in the state’s governance structure. The event underscored the administration’s emphasis on continuity, coordination, and legislative-executive collaboration.

Speaking at the ceremony, Governor Sanwo-Olu reiterated that the 2026 budget was carefully crafted to address socio-economic challenges while laying the foundation for sustainable development. According to him, the budget reflects the government’s resolve to tackle poverty, expand infrastructure, and improve the quality of life for Lagos residents.

“Our mission remains clear: to eradicate poverty and build a Lagos that works for all,” the governor stated. “Our vision continues to guide every fiscal decision we make, to deliver a Greater Lagos where shared prosperity is not an aspiration but a lived and felt reality.”

Sanwo-Olu explained that the budget is anchored on four strategic pillars: a human-centred approach to governance, modern and resilient infrastructure, a thriving and inclusive economy, and effective, transparent governance. These priorities, he noted, are aligned with the state’s development blueprint known as the T.H.E.M.E.S+ Agenda, which focuses on transport and traffic management, health and environment, education and technology, making Lagos a 21st-century economy, entertainment and tourism, and security and governance.

While the government has presented the budget as a bold step toward inclusive growth, reactions from the public have been sharply divided. Supporters of the administration praised Lagos for consistently setting the pace among Nigerian states in terms of budget size and economic ambition. They argue that Lagos, as Africa’s fastest-growing megacity, requires massive financial commitments to meet the demands of its population.

However, critics have raised concerns over accountability and value for money. Many Lagos residents and online commentators questioned how previous trillion-naira budgets have translated into improved living conditions, citing persistent issues such as flooding, traffic congestion, poor road conditions in some areas, waste management challenges, inadequate public water supply, and the continued presence of street touts.

Some critics also pointed to the weakening value of the naira, arguing that while the budget figure appears impressive, inflation significantly erodes its real impact. Others accused successive administrations of prioritising recurrent expenditure and political patronage over long-term infrastructure and social services.

The signing of the 2026 budget has also reignited broader debates about governance, transparency, and public trust in Lagos State. While the government insists that the “Budget of Shared Prosperity” will deliver tangible benefits across all sectors, many residents say expectations must now be matched with visible results on the streets, in schools, hospitals, and communities.

As implementation begins, all eyes will be on how the ₦4.4 trillion budget is executed and whether it truly delivers on its promise of shared prosperity for Africa’s most populous city.