Governor Babajide Sanwo-Olu is preparing to submit a proposed ₦4.2 trillion budget for the 2026 financial year to the Lagos State House of Assembly, after the lawmakers confirmed receiving his formal request to set a date for the presentation.
On Monday, the Assembly disclosed that it had received a letter from the governor asking them to choose an appropriate day for him to present the 2026 Appropriation Bill.
According to the communication, “the governor is proposing a total budget estimate of N4.27tn for the 2026 fiscal year.”
The letter, read on the floor by the Clerk, Olalekan Onafeko, formally set in motion the legislative process leading to the budget presentation.
As of press time, the Assembly had not fixed a date for the presentation.
When contacted on Tuesday about when the governor would appear before the House, Clerk Onafeko said he would get back to our correspondent but had yet to do so.
The proposed N4.2tn budget marks a major leap in Lagos State’s annual spending plan, which has grown by more than N3tn in five years.
Figures from the state’s budget history show that Lagos’ appropriation has risen from N1.1tn in 2021 to the N4.2tn now proposed for 2026 — an increase of N3.074tn under Governor Sanwo-Olu.
In 2022, the state raised its budget to N1.75tn, followed by N1.76tn in 2023, and a significantly higher N2.26tn in 2024.