Lagos State took a major step toward defining its financial direction for the new year as Governor Babajide Sanwo Olu on Tuesday, November 25, 2025, presented a N4.237 trillion budget proposal to the state House of Assembly.
The Assembly complex was active well ahead of the presentation. Security personnel from the Police, Civil Defence, and the Lagos Neighbourhood Safety Corps maintained a strong presence around the building, while state executives, local government chairpersons, traditional rulers, and invited guests made their way into the chamber. Speaker Mudashiru Obasa presided over the sitting.
Sanwo Olu began his address shortly after 1 p.m., unveiling what he called the Budget of Shared Prosperity. He explained that the proposal represents the next phase of Lagos’ growth strategy, with a focus on ensuring that development is felt by every resident.
He stated that the budget is built on four key priority areas: a people centred governance approach, improved and modern infrastructure, expanded economic opportunities, and transparent, accountable leadership.
Lagos’ budget has seen consistent growth in recent years, rising from just above N1 trillion in 2021 to the newly proposed N4.2 trillion for 2026. The progression includes N1.75tn in 2022, N1.76tn in 2023, N2.26tn in 2024, and N3.366tn in 2025.
Sanwo Olu described the 2026 figure as a reflection of the state’s increasing capacity and collective determination to continue raising the bar. He reiterated that his administration remains committed to completing ongoing projects across the state.
With the proposal now before the 40 member House of Assembly, lawmakers are expected to begin their detailed review in the coming days.
