The Lagos State House of Assembly has approved a total budget of ₦4,444,509,776,438 (four trillion, four hundred and forty-four billion, five hundred and nine million, seven hundred and seventy-six thousand, four hundred and thirty-eight naira) for the year 2026.
This decision was adopted by the parliament on Thursday at its session.
Hon. Mudashiru Obasa served as the plenary’s speaker.
According to a statement released on Thursday night, the permission came after Hon. Sa’ad Olumoh, the chairman of the House Committee on Economic Planning and Budget, presented a thorough report.
In response, Obasa pointed out that the parliamentarians used a voice vote to approve the report.
He continued by saying that the MPs were in favor of approving the budget.
According to him, the budget was approved to guarantee the state’s sustainable development.
Obasa then took use of the occasion to instruct Barrister Olalekan Onafeko, the Clerk of the House, to send a clean copy of the approved bill to the state’s Governor Babajide Sanwo-Olu for assent.
The law is anticipated to be ratified by Sanwo-Olu at any moment.
Sanwo-Olu reportedly submitted a ₦4.23 trillion budget proposal to the House on November 25, 2025.
