The Lagos State Government has said its ₦4.444 trillion 2026 “Budget of Shared Prosperity” will prioritise infrastructure renewal, economic diversification, housing delivery and education reforms aimed at improving residents’ quality of life.
Commissioner for Economic Planning and Budget, Ope George, disclosed this during the 2026 Ministerial Press Briefing at the Bagauda Kaltho Press Centre, Alausa, Ikeja.
He said the budget, signed into law by Governor Babajide Sanwo-Olu, comprises ₦2.338 trillion capital expenditure and ₦2.106 trillion recurrent expenditure, representing a 53:47 ratio.
According to him, ₦1.467 trillion was allocated to infrastructure projects covering transportation, healthcare, education and public works.
George said ongoing projects such as the Opebi-Mende Link Bridge and Eti-Osa/Lekki/Epe Expressway Phase IIB were expected to ease traffic congestion, improve connectivity and stimulate investment across key economic corridors.
He explained that the Opebi-Mende Link Bridge would provide an alternative route linking Mende and Maryland to Ikeja, thereby reducing pressure on Kudirat Abiola Way and Mobolaji Bank Anthony Way.
The commissioner added that the project would also support property value appreciation, commercial activities and logistics efficiency within the axis.
On housing, George said government was prioritising completion of several schemes targeted at low and middle-income earners.
The projects include the 504-unit LAGOSHOMS Sangotedo Phase II, Epe Housing Scheme, Ibeshe Phase II, Late Abdul-Wahab Oke Benson Estate, LAGOSHOMS Ajara-Badagry and the Egan Mixed Housing Scheme.
Speaking on economic diversification, he said ₦87 billion was allocated to food security initiatives, including the Lagos Wholesale Produce Hub, while ₦35 billion was earmarked for tourism projects such as the Badagry Point of No Return and the Lagos Heritage Centre.
He added that ₦112 billion was committed to energy and power projects aimed at reducing operational downtime and improving productivity.
George said institutional reforms also remained a major focus of the budget, with ₦33 billion allocated to technology and digital transformation initiatives to automate government processes and improve ease of doing business.
He further disclosed that the Lagos Education Access Fund (LEAF), under the Education Outcomes Fund (EOF), had entered implementation stage with a target of reaching over 200,000 children within three years.
According to him, the programme, supported by international partners including CIFF, UBS Optimus Foundation and the Japanese Ministry of Foreign Affairs, is designed to improve school enrolment and learning outcomes.
On budget implementation, George said Lagos recorded 84 per cent budget performance in the 2025 fiscal year and projected between 60 and 70 per cent performance in the first quarter of 2026.
He attributed the projected trend to the fiscal cycle, noting that capital projects usually gather momentum after the first quarter following settlement of recurrent obligations such as salaries, pensions and debt servicing.
George reaffirmed the ministry’s commitment to prudent fiscal management and policies aimed at sustaining Lagos’ position as a globally competitive economy.
