Babajide Sanwo-Olu, the governor of Lagos State, submitted an N4.237 trillion budget proposal for the 2026 fiscal year to the Lagos State House of Assembly yesterday for review and potential approval. The proposal, known as the “Budget of Shared Prosperity,” represents a substantial increase of more than N1 trillion over the N3.005 trillion budget for 2025.A total of N4.237 trillion is the planned budget. With a total revenue of N3.993 trillion, this budget only contains N243.332 billion in deficit financing. Additionally, we have a total revenue of N874 billion from federal payments and N3.119 trillion from internally generated revenue, the governor stated. He suggested spending N2.055 trillion on recurring expenses and N2.185 trillion on capital expenditures for debt servicing, staff, and overhead.
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