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Olugbemi. Adeyinka Ogunleye
3 months ago
Overview
Sanwo-Olu presents N4.2tn 2026 Lagos budget
Lagos State Governor, Babajide Sanwo-Olu, on Tuesday presented a proposed N4.237tn budget for the 2026 fiscal year to the state House of Assembly, with the House vowing to meticulously scrutinise the proposal.
Security was heightened within and around the Assembly complex, with officers from the police, the Nigeria Security and Civil Defence Corps, and the Lagos State Neighbourhood Safety Corps stationed at major entry points.
Members of the state executive council, local government officials, traditional rulers, and other invited guests attended the session, which was presided over by the Speaker, Mudashiru Obasa.
Sanwo-Olu began his presentation of the budget, tagged “Budget of Shared Prosperity,” at about 1.25 p.m.
The proposed budget has a total size of N4,237,107,009,308. It consists of total revenue of N3,993,774,552,141 and deficit financing of N243,332,457,167. The revenue is made up of Internally Generated Revenue of N3,119,774,552,141 and federal transfers of N874,000,000,000.
For expenditure, the government is proposing capital expenditure of N2,185,085,419,495 and recurrent expenditure of N2,052,021,589,812.
The recurrent expenditure, which covers overheads, personnel costs, and debt services, includes a total overhead cost of N1,084,245,843,091. Personnel and debt obligations consist of a total personnel cost of N440,494,339,384, recurrent debt charges of N143,876,701,943, and debt repayments of N383,404,705,394
More: https://punchng.com/sanwo-olu-presents-n4-2tn-2026-lagos-budget/
