### Lagos Assembly Passes ₦4.44 Trillion Budget for 2026, Focusing on Infrastructure and Economic Growth The Lagos State House of Assembly has officially passed a budget of ₦4.44 trillion for the fiscal year 2026, marking a significant financial commitment to infrastructure and economic development. This budget, referred to as the "Budget of Shared Prosperity," was approved following the adoption of the House Committee on Economic Planning and Budget's report. The budget reflects an increase of ₦210 billion from the initial proposal presented by Governor Babajide Sanwo-Olu, emphasizing the state's commitment to enhancing public services and infrastructure [https://thegazellenews.com/lagos-assembly-approves-₦4-44tr-n210bn-increase-from-n4-23tr-presented-by-sanwo-olu]. ### Breakdown of the 2026 Budget Structure and Priorities 1. **Total Budget Allocation**: The approved budget stands at ₦4,444,509,776,438, which is a substantial increase aimed at addressing various sectors. 2. **Capital Projects**: Over 52% of the budget is earmarked for capital projects, focusing on infrastructure, education, healthcare, and social development [https://tv360nigeria.com/lagos-state-house-passes-₦4-44-trillion-2026-shared-prosperity-budget]. 3. **Economic Growth Initiatives**: The budget prioritizes economic growth strategies, aiming to stimulate job creation and improve living standards across the state [https://guardian.ng/news/lagos-assembly-passes-n4-4tr-2026-budget]. 4. **Social Development**: Significant funds are allocated to social programs designed to enhance the quality of life for Lagos residents [https://naija247news.com/lagos-assembly-passes-₦4-44trn-2026-budget-prioritises-infrastructure-economic-growth]. ### Supporting Evidence and Data - **Budget Increase**: The budget reflects a ₦210 billion increase from the previous proposal, showcasing the Assembly's commitment to enhancing fiscal responsibility and addressing the needs of the populace [https://thegazellenews.com/lagos-assembly-approves-₦4-44tr-n210bn-increase-from-n4-23tr-presented-by-sanwo-olu]. - **Capital Project Allocation**: More than **52%** of the total budget is dedicated to capital projects, which is crucial for infrastructure development [https://tv360nigeria.com/lagos-state-house-passes-₦4-44-trillion-2026-shared-prosperity-budget]. - **Focus Areas**: The budget emphasizes key areas such as education, healthcare, and infrastructure, which are vital for sustainable development [https://naija247news.com/lagos-assembly-passes-₦4-44trn-2026-budget-prioritises-infrastructure-economic-growth]. ### Conclusion: A Strategic Move Towards Shared Prosperity In summary, the Lagos State Assembly's approval of the ₦4.44 trillion budget for 2026 represents a strategic initiative aimed at fostering economic growth and improving infrastructure. The key findings are as follows: 1. **Significant Financial Commitment**: The budget reflects a robust financial commitment to the state's development goals. 2. **Focus on Capital Projects**: A substantial portion of the budget is allocated to capital projects, which are essential for long-term growth. 3. **Enhanced Social Services**: The budget prioritizes social development, aiming to uplift the quality of life for residents. This comprehensive budget is expected to drive Lagos towards a path of shared prosperity, addressing the pressing needs of its citizens while laying the groundwork for future growth [https://naija247news.com/lagos-assembly-passes-₦4-44trn-2026-budget-prioritises-infrastructure-economic-growth].