Lagos Assembly passes N4.45tn 2026 revised budget

n n

The Lagos State House of Assembly has passed the 2026 Budget Reordering Bill, raising the state’s total budget size to N4.44tn.

n

The bill, presented by Governor Babajide Sanwo-Olu, was passed on Tuesday after the House considered and adopted the report of its Committee on Economic Planning and Budget.

n

Presenting the report, the committee chairman, Olumoh Sa’ad, said the budget reordering was necessary to address disparities in the implementation of capital projects across Ministries, Departments and Agencies.

n

The committee said while some MDAs had recorded substantial implementation of their capital allocations, others had recorded lower levels of implementation, affecting the delivery of projects and the overall performance of the 2026 budget.

n

According to the report, the state recorded 69 per cent overall budget performance as of June 30, 2026.

n

It put recurrent revenue performance at 79 per cent, recurrent expenditure at 73 per cent and capital expenditure at 66 per cent.

n

The committee said the reordering would allow the government to concentrate resources on priority projects, accelerate their execution and improve the implementation of the budget.

n

It said priority areas under the revised budget included transportation infrastructure, completion of hospital projects, housing, environmental sanitation and waste management, security and emergency equipment, as well as other critical infrastructure across the state.

n

Following the adjustments, recurrent expenditure was revised to N2.077tn, while capital expenditure was increased to N2.368tn, bringing the total 2026 budget to N4.445tn.

n

The committee recommended adjustments to various allocations to ensure that projects considered critical to the state received adequate funding.

n

After deliberations, the House adopted the committee’s report and passed the Budget Reordering Bill into law following a vote conducted by the Speaker, Mudashiru Obasa.

n n