The Lagos State House of Assembly has confirmed receipt of the request from Governor Babajide Sanwo-Olu to schedule a substantive date for the presentation of the 2026 Appropriation Bill.
During the plenary session on Monday presided over by the Speaker, Rt. Hon. Mudashiru Obasa, Governor Sanwo-Olu’s letter was read.
The letter outlined a proposed total budget estimate of N4.237 trillion for the 2026 fiscal year, which was read on the floor of the House by the Clerk, Olalekan Onafeko,
In his letter, Governor Sanwo-Olu expressed his appreciation for the sustained collaboration and constructive engagement between the executive and the Obasa-led assembly, adding: “The unwavering support of this House has been instrumental in driving our development agenda and delivering key initiatives that continue to improve the quality of life across Lagos State.”
He added that these collective efforts have strengthened governance, enhanced public trust, and ensured steady progress in fulfilling their shared mandate to the people of Lagos.
The governor has proposed a total budget estimate of N4.237 trillion for the 2026 fiscal year, with Internally Generated Revenue expected to contribute N3.119 trillion, while federal transfers of N874 billion are expected.
The recurrent expenditure is pegged at N2. 048 trillion, while capital expenditure is N2.188 trillion.
According to the governor: “This represents a 25% increase over the Y2025 Revised Budget and reflects our confidence in the capacity of the state to achieve its developmental ambitions.”
Thereafter, Sanwo-Olu asked that the House fixes a favourable date for the formal presentation of the 2026 Appropriation Bill.
Responding, Speaker Obasa welcomed the governor’s communication and highlighted the responsibility of the Assembly to engage in thorough deliberations.
“As we prepare to discuss this substantial budget proposal, it is imperative that we consider the aspirations of our constituents and ensure that our decisions align with their needs,” he remarked.
