By Ajibola Adedoye
Lagos State on Tuesday took a major step toward inclusive growth and economic resilience as the Governor signed the 2026 Budget of Shared Prosperity into law, approving a record ₦4.444 trillion spending plan for the new fiscal year.
The budget, which was recently passed by the Lagos State House of Assembly, is designed to strengthen governance, sustain the state’s competitiveness, and ensure that development reaches residents across all communities, regardless of location or occupation.
Speaking at the signing ceremony, the Governor described the 2026 budget as people-centred and impact-driven, stressing that inclusion remains at the heart of the administration’s economic and social agenda. He noted that the goal is for every Lagosian to tangibly feel the benefits of governance through improved public services and infrastructure.
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Key priority areas of the budget include significant investments in education, with plans to improve learning environments and access to quality schooling, as well as expanded healthcare infrastructure through the construction and upgrading of medical facilities across the state. Enhanced security architecture and targeted social interventions aimed at improving overall quality of life also feature prominently in the spending framework.
The Governor acknowledged that Lagos enters the 2026 fiscal year amid notable challenges. He referenced the recent Balogun Market fire and the ongoing but necessary infrastructure works along the Ebute Metta coastline as stark reminders of the urgency of sustained investment in infrastructure, disaster preparedness, and service delivery. According to him, the new budget equips the state with greater capacity to respond effectively to emergencies while preparing Lagos for future growth.
Outlining the economic focus for 2026, the Governor said the administration will prioritise infrastructure renewal, transportation expansion, agricultural development, and robust support for micro, small and medium-scale enterprises (MSMEs). Job creation and broad-based economic growth, he added, remain central objectives, with deliberate efforts to ensure that prosperity is shared more widely among residents.
He also reaffirmed the government’s commitment to fiscal discipline, transparency, and accountability, assuring Lagosians that public funds will be spent responsibly and that value for money will guide all projects and programmes.
“Lagosians deserve nothing less,” the Governor declared, as he called for continued public support and cooperation to successfully implement the ambitious budget and deliver meaningful progress across the state.
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