The Lagos State House of Assembly has approved the ₦4.4 trillion 2026 Appropriation Bill, officially tagged the Budget of Shared Prosperity, following weeks of extensive scrutiny and sector-by-sector evaluation by lawmakers.

The passage of the budget reflects the conclusion of detailed legislative engagements aimed at ensuring fiscal responsibility and alignment with the developmental priorities of the state.

The approved spending plan places strong emphasis on infrastructure development, education, healthcare, economic expansion and social development, underscoring the commitment of the Lagos State Government to inclusive and sustainable growth.

A breakdown of the approved figures shows that more than 52 per cent of the total expenditure has been earmarked for capital projects, signalling the government’s focus on long-term development and the expansion of critical infrastructure across the state.

Reacting to the passage of the bill, Speaker of the House of Assembly, Mudashiru Obasa, said lawmakers were deliberate in ensuring that the 2026 budget responds to the needs of residents and supports the state’s development agenda.

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 explained that the substantial allocation to capital expenditure is expected to accelerate development efforts and stimulate economic activities across major sectors of the state’s economy.

He added, “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.”

According to the Speaker, the capital component of the budget will be channelled towards the completion of ongoing road and transportation projects, the expansion of healthcare and educational facilities, housing initiatives and other strategic programmes designed to enhance service delivery and productivity.

He also assured residents of Lagos State that the House of Assembly would sustain its oversight responsibilities to guarantee effective and transparent implementation of the approved budget.

Obasa stated, “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.”

During deliberations on the bill, several lawmakers emphasised that increased funding for education and healthcare would strengthen human capital development across the state.

The legislators also noted that the social development initiatives captured in the budget are expected to provide support for vulnerable groups and promote social inclusion.

The approval of the 2026 Appropriation Bill marks a significant milestone in Lagos State’s development drive as the government seeks to consolidate economic progress, attract private sector investment and advance shared prosperity.

The bill will now be transmitted to the Governor for assent, a move that will pave the way for the full implementation of the 2026 fiscal plan.