Lagos Signs ₦4.44 Trillion 2026 Budget of Shared Prosperity into Law

Lagos State has taken a decisive step toward inclusive growth and sustainable development with the signing of the ₦4.44 trillion 2026 Budget of Shared Prosperity into law by Governor Babajide Sanwo-Olu on January 19, 2026. The budget, duly passed by the Lagos State House of Assembly, reaffirms the State Government’s unwavering commitment to economic opportunity, social investment, and responsive governance for all Lagosians - at home and across the diaspora.

More than a fiscal document, the 2026 Budget of Shared Prosperity serves as a strategic roadmap for strengthening infrastructure, expanding human capital development, deepening economic resilience, and improving the overall quality of life in Lagos State. Anchored on the T.H.E.M.E.S+ development agenda, the budget reflects the administration’s vision of a globally competitive city where growth is inclusive and prosperity is shared.

As implementation begins, the Lagos State Government reiterates its belief that shared prosperity is achieved through collective participation, connecting residents within the State and Lagosians around the world to a common vision of progress, innovation, and inclusive development.

A Budget Anchored on Shared Prosperity for Every Lagosian

Following thorough legislative consideration, the 2026 budget authorises a total expenditure of ₦4.444 trillion for the fiscal year. It reflects strong collaboration between the executive and legislative arms of government, united by a shared resolve to ensure that the dividends of governance are felt by every Lagosian, regardless of location or livelihood.

Governor Babajide Sanwo-Olu has emphasised that the budget was crafted not merely to fund government operations, but to strengthen governance, improve service delivery, and position Lagos for sustained competitiveness in an increasingly dynamic global environment. Presented to the Lagos State House of Assembly in November 2025, the financial plan was framed around a clear objective: reducing poverty, expanding opportunity, and building a Lagos that works for all.

Built on the principles of inclusion, accountability, and value for money, the Budget of Shared Prosperity reinforces the administration’s commitment to delivering quality public services and creating pathways for economic empowerment. For Lagosians in the diaspora - professionals, entrepreneurs, investors, and families this underscores that Lagos remains home, not only in identity but as a dynamic economic and social hub worthy of continued engagement.

A Budget Designed for Lagosians - Everywhere

Governor Sanwo-Olu has described the 2026 budget as one that strengthens governance while keeping Lagos competitive on the global stage, with tangible benefits for everyday life. Whether in Victoria Island or Ikeja, New York or London, Dubai or Johannesburg, Lagosians can expect to see the impact of this budget through targeted investments in key priority areas, including:

• Improved schools and enhanced learning outcomes

• Upgraded healthcare facilities and services

• Strengthened security of life and property

• Expanded infrastructure, including roads and modern transport systems

• Increased support for micro, small, and medium-sized enterprises (MSMEs)

• Job creation and broad-based economic growth

The Governor has affirmed that “no matter where you live or what you do, you should feel the impact of governance.” This inclusive approach resonates strongly with Lagos’ vibrant diaspora community, many of whom maintain enduring personal, professional, and economic ties to the State.

The budget also strengthens Lagos State’s capacity to respond to emerging challenges, including market disruptions, environmental pressures, and coastal resilience needs, while proactively preparing for future growth through strategic planning and infrastructure investment.

Why This Budget Matters to Lagosians in the Diaspora

As a global city in constant motion, Lagos continues to position itself as a destination for partnership, innovation, and investment. The 2026 Budget of Shared Prosperity sends a clear and reassuring message to Lagosians abroad:

a.      Diaspora Engagement and Opportunity

Lagos State remains open and committed to diaspora participation through investment opportunities, economic empowerment initiatives, and structured skills-transfer partnerships. A budget grounded in inclusion strengthens pathways for diaspora professionals and investors to contribute meaningfully to the State’s development.

b.      Social Impact and Connectivity

With renewed focus on education, healthcare, security, and social infrastructure, the budget recognises diaspora Lagosians as key stakeholders in the State’s future, partners in progress, not supporters from a distance.

c.       Sustainable Growth and Confidence

Fiscal governance under the 2026 budget is anchored on transparency, strategic allocation, and value for money, reinforcing confidence and enabling sustained diaspora engagement across critical sectors such as housing, technology, healthcare, agriculture, transport, and the creative economy.

From Lagos to the World: Shared Prosperity in Action

The Lagos State Office of Diaspora Affairs (LASDA) welcomes the signing of the 2026 Budget of Shared Prosperity and invites Lagosians at home and abroad to reflect on the opportunities it presents.

This budget is more than an annual financial framework; it is a call to collective action, a reaffirmation of shared identity, and a foundation for inclusive civic engagement. LASDA looks forward to working with diaspora communities, global partners, and all Lagos stakeholders as the budget transitions from policy to impact - reinforcing Lagos as a global city of opportunity, resilience, and shared progress.