A Budget for Shared Prosperity - A Message to the Lagos Diaspora

Recently, His Excellency, Governor Babajide Olusola Sanwo-Olu, presented the Year 2026 Appropriation Bill, aptly named “The Budget of Shared Prosperity,” to the Lagos State House of Assembly.

More than a statutory exercise, this budget is a deliberate and mission-driven blueprint designed to ensure that this administration concludes with accelerated, people-centred impact: deepening opportunity, expanding social protection, delivering transformational infrastructure, and positioning Lagos for even stronger private-sector growth and global partnerships in 2026 and the years ahead.

This was not merely a fiscal presentation; it was the unveiling of a clear roadmap that speaks directly and confidently to Lagosians at home and across the world — including our vibrant and influential diaspora community.

And for Lagosians abroad, the message is unmistakable:

• Lagos is ready for you.

• Lagos is open to you.

• Lagos is creating room for your skills, investments, culture, and global perspectives.

  
  

The 2026 Budget of Shared Prosperity signals a pivotal year to deepen your engagement with Lagos, whether through investment, professional exchange, innovation, or reconnecting with home as Africa’s most dynamic megacity continues to rise.

The Numbers That Matter - At a Glance

• Total Budget: ₦4,237,107,009,308

• Estimated Revenue: ₦3,993,774,552,141

• Capital Expenditure: ₦2,185,085,419,495

  
  

Key Sector Allocations

• Economic Affairs: ₦1.37 trillion

• Health: ₦338.45 billion

• Education: ₦249.13 billion

• Housing: ₦123.76 billion

• Social Protection: ₦70.02 billion

These are not abstract figures, they represent new opportunities for investment, professional collaboration, cultural engagement, and diaspora integration.

A Budget Built Around People -  Including You

The 2026 budget is anchored on four pillars:

• A Human-Centred City

• Modern Infrastructure

• A Thriving Economy

• Effective Governance

Each pillar reflects Lagos’ commitment to making the state a globally competitive home for returnees, investors, and skilled professionals.

1. A Human-Centred City: A Lagos You Can Return to With Confidence

This pillar prioritises education, healthcare, housing, and social protection - ensuring Lagos remains a safe, inclusive and liveable city.

Highlights:

• Over 250 school infrastructure projects delivered in 2025, with more planned for 2026.

• Continued upgrades at LASU, LASUSTECH, and LASUED, positioning Lagos as a top academic destination.

• Ongoing modernisation of hospitals — including expanded oxygen infrastructure at LASUTH.

• Social protection systems supporting 800,000+ vulnerable households.

For diaspora families and professionals:  Confidence is growing - from stronger schools and improved healthcare for children and aging parents, to rising demand for globally trained expertise in medicine, academia, research, and social development.

2. Modern Infrastructure: A Megacity Built for Global Competitiveness

Lagos is transitioning from constructing infrastructure to integrating systems - connecting rail, waterways, roads, energy, and digital infrastructure.

Key Projects Benefiting the Diaspora:

• Expansion of strategic corridors: Maryland–Lekki, Alimosho, Badagry, Epe.

• Progress on the Green Line Rail (Marina–Ajah/Lekki).

• Commissioning of the Ijegun–Egba Ferry Terminal, with 25 more underway.

• Delivery of 50+ solar-powered water schemes and the Adiyan Phase II Water Plant (70MGD).

• Housing schemes in Sangotedo, Gbagada, Badagry, Ikorodu, Epe.

What this means for the diaspora: A more seamless, transparent, and investment-ready environment for housing, tourism, work mobility, and business.

3. A Thriving Megacity Economy: Lagos as Africa’s Global Hub

Lagos attracted over ₦1 trillion in investment commitments in 2025. The 2026 budget reinforces Lagos as a centre for innovation, industry, creativity, agriculture, and global trade.

Diaspora Opportunities:

• Agritech & Food Systems

o   ₦500 billion Lagos Uptake Guarantee Fund

o   Openings in processing, logistics, cold-chain, agri-finance, and agritech.

• Tech & Innovation

o   Lagos — the world’s fastest-growing tech ecosystem.

o   12MW LGS2 Data Centre powering cloud services, AI research, outsourcing, and digital migration.

o   ₦31 billion Lagos Innovation Fund supporting diaspora-led startups.

• Creative & Cultural Industries

o   Lagos hosting CANEX 2026 and IATF 2027.

o   Opportunities in film, music, fashion, gaming.

o   Progress on Lagos Film City, Epe.

• Tourism & Real Estate

o   Upgraded heritage sites, new tourism routes, and global events such as the E1 Electric Powerboat Race - Africa’s first.

4. Effective Governance: A State You Can Trust

2026 will see further strides in efficiency, transparency, and digital public service delivery.

Improvements that Build Diaspora Confidence:

• Expanded e-governance systems — land services, tax, permits, documentation.

• New fire stations, enhanced CCTV networks, improved emergency response.

• Digitised justice processes and upgraded court facilities.

These governance reforms reduce risk, simplify processes, and strengthen trust, essential for diaspora investors and returnees.

Why This Budget Matters to the Diaspora

• More investment-ready projects in transport, energy, housing, water, digital infrastructure.

• A thriving tech and innovation ecosystem with new financing windows.

• Stronger trade and export pathways through Afreximbank partnerships and major global events.

• Broader, structured housing opportunities across Lagos districts.

• A booming creative and tourism economy with global visibility.

• Expansion in agribusiness backed by guarantees and state-led incentives.

How the Diaspora Can Engage in 2026

• Invest in PPP projects, housing schemes, and innovation funds.

• Mentor startups or partner with Lagos innovation hubs.

• Participate in trade, investment, and tourism events - CANEX 2026, Invest Lagos.

• Co-produce films, music, and cultural projects.

• Channel remittances into productive investments - diaspora bonds, co-investment pools, agrifunds.

• Visit, reconnect, and explore emerging sectors - familiarity builds trust.

The Lagos Promise - Reliable, Deliberate, Inclusive

The 2026 Budget of Shared Prosperity reinforces Lagos’ commitment to shared growth, transparent governance, and global partnerships. Each pillar carries an invitation to the diaspora: safer cities, strengthened systems, innovation-led growth, and people-first governance.

As Governor Sanwo-Olu noted, 2026 is a year to consolidate gains and accelerate impact.

For Lagosians abroad considering investment, partnership, relocation, or cultural engagement, the moment is here.

Lagos is ready. Lagos is open. Lagos is rising, and we want you to rise with us.

LASDA stands ready to guide you: connecting you with the right agencies, opportunities, and platforms as the 2026 budget unfolds.

Together, we will keep Lagos secure, working, and growing - ensuring prosperity is shared by all who call Lagos home.