Lagos State Assembly reallocates ₦4.445 trillion 2026 budget
The Lagos State Assembly in Nigeria has approved a bill revising the allocation of the 2026 budget totaling ₦4.445 trillion. The decision was made after considering and approving the report of the parliamentary Committee on Economic Planning and Budget, Premium Times Nigeria reports.
Reasons for the revision
Committee Chairman Olumo Saad said the revision was prompted by varying levels of capital project implementation by the state’s ministries, departments and agencies. According to him, some of them demonstrated a higher level of capital expenditure implementation, while others spent less on their projects than had been allocated.
As of June 30, the overall budget implementation rate stood at 69%. The implementation of the regular revenue plan was estimated at 79%, recurrent expenditure at 73%, and capital expenditure at 66%.
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New allocation of funds
Following the revision, ₦2.077 trillion will be allocated to recurrent expenditure and another ₦2.368 trillion to capital projects. Funding areas include transport infrastructure, hospital projects, housing, environmental sanitation and waste management, as well as equipment for security and emergency response.
After the debate, lawmakers endorsed the committee’s recommendations and passed the bill in a vote conducted by Speaker Mudashiru Obasa. He instructed the assembly clerk to forward its resolutions to the relevant authorities. The plenary session was adjourned until November 2.
Previous budget
In January, the assembly approved Lagos’s 2026 budget of ₦4.444 trillion, after Governor Babajide Sanwo-Olu submitted a ₦4.237 trillion proposal in November 2025. At that time, ₦2.107 trillion was allocated for recurrent expenditure and ₦2.338 trillion for capital projects. Sanwo-Olu subsequently signed the budget bill into law.
