2026 Budget: Sanwo-Olu Requests Assembly Date to Present N4.27tn Plan

Governor Babajide Sanwo-Olu is preparing to present a proposed N4.27 trillion budget for the 2026 fiscal year to the Lagos State House of Assembly, following confirmation that the legislature has received his official request to schedule a presentation date.

On Monday, the Assembly announced that it had received the governor’s communication seeking a suitable day for him to lay the 2026 Appropriation Bill before lawmakers. The letter, read on the floor by Clerk Olalekan Onafeko, formally initiated the legislative process for the budget presentation. As of press time, no date had been fixed for the event.

The proposed N4.27 trillion budget represents a significant increase in Lagos State’s annual spending plan, which has grown by over N3 trillion in five years. Budget records show that Lagos’ appropriation rose from N1.1 trillion in 2021 to N4.237 trillion for 2026. The annual allocations increased from N1.75 trillion in 2022, N1.76 trillion in 2023, N2.26 trillion in 2024, and N3.366 trillion in 2025, reflecting a steady upward trajectory under Governor Sanwo-Olu’s administration.

Economist and Chief Executive of Cowry Treasurers Limited, Charles Sanni, described the consistent growth in the budget as a positive development. He emphasized that a rising budget trajectory signals progress and should not be a cause for concern, noting that only a declining trend would warrant worry.