Governor Babajide Sanwo-Olu on Tuesday laid before the Lagos State House of Assembly a N4.237 trillion Appropriation Bill for the 2026 fiscal year, describing it as an ambitious, future-driven financial plan aimed at solidifying his administration’s legacy in its final full year.

Presenting the proposal, titled the “Budget of Shared Prosperity,” the governor said it reflects the collective optimism that Lagos will continue to expand opportunities, strengthen its leadership role, and reinforce its status as Africa’s foremost megacity.

Sanwo-Olu disclosed that the budget projects total revenue of N3,993,774,552,141, comprising N3.12 trillion in Internally Generated Revenue and N874 billion in expected Federal Transfers. The funding structure, he noted, leaves a deficit financing requirement of N243,332,457,167.

For the 2026 fiscal year, capital expenditure is set at N2,185,085,419,495, while recurrent expenditure stands at N2,052,021,589,812. He explained that the recurrent component covers overheads, personnel costs, and debt obligations.

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A breakdown of recurrent spending shows total overhead costs of N1,084,245,843,091, including general overheads, subventions and dedicated expenditures, while personnel costs amount to N440,494,339,384. Recurrent debt charges are projected at ₦143,876,701,943, with debt repayments estimated at N383,404,705,394.

Sanwo-Olu also outlined the sectoral distribution of the 2026 budget. General Public Services will receive N847,472,071,966; Public Order and Safety, N147,040,088,897; and Economic Affairs, N1,372,307,808,626. The Environment Ministry is allocated N235,957,235,138, while Housing receives N123,760,310,429.

The Health sector is earmarked N338,449,258,945; Education gets N249,132,921,287; Social Protection, N70,024,171,038; and the Recreation and Culture sector will take N54,682,339,586.

The governor said the year 2026 carries special weight as the last full calendar year of his administration, describing it as a period crucial for consolidating achievements and ensuring a “strong, successful finish.”

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He reaffirmed his commitment to completing all ongoing and newly initiated projects, adding that his administration will continue to prioritise citizen engagement to ensure government decisions reflect the needs of Lagosians.

According to him, Lagos is entering a new phase of “accelerated impact,” driven by sustained investment in infrastructure, human capital, social welfare and governance systems that are “intentional, inclusive and future-oriented.”

Sanwo-Olu reiterated his administration’s core mission: “To keep Lagos secure, to keep Lagos working, to keep Lagos growing, and to make sure the prosperity we build is shared by everyone who calls this centre of excellence home.”

He commended the Lagos State House of Assembly for its consistent partnership, describing the lawmakers as steadfast allies in the state’s development journey. He also praised the civil service for its hard work in translating government vision into measurable progress.

Authorities of the Museum of West African Art (MOWAA) on Monday refused to appear before the Edo State House of Assembly Ad hoc Committee which was set up to investigate its operations and funding.

Recall that Governor Monday Okpebholo, had last month, asked the Assembly to determine the stake of the state government having committed N3.3bn and true ownership of MOWAA.

At the resumed sitting of the Committee on Monday, MOWAA, in a letter by its lawyer, Olayiwola Afolabi, said it earlier informed the Committee that it would be sub judice for it to attend the public hearing due to the pendency of the same matter before the Federal High Court, Benin City.

In the letter, MOWAA informed the Committee that other committees of the Federal Government and the House of Representatives have been constituted to look into the same issues.

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The letter said documents it previously submitted to the Assembly showed that everything about MOWAA was genuine and transparent.

MOWAA, in the documents it submitted, said, “No funds from any international institution had been received for the building of MOWAA until after it was very clear what MOWAA was and was not.

“All funding was received subsequent to the time in the middle of 2021 that it was clear to potential donors that there would be two separate organisations one focused on Benin heritage art and another on modern and contemporary, broader West African art and research/education.

“Funding from the German Government did not come until the end of 2022 – a year and a half after the Palace disassociated itself from MOWAA. The fact that there would be two separate museums was communicated to the Benin Dialogue Group (the European museums) in the meetings of October, 2021 at the London meeting and again in Hamburg in the meetings of March 2023, and further confirmed in writing to all Benin Dialogue Group members approximately two years ago when MOWAA formally withdrew from the group meetings.”

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Speaking before the Committee, the state Accountant General, Julius Oseimen Anelu, said N3.8bn was released for the building of MOWAA between 2022 and 2024.

He said funding for MOWAA by the Edo State Government was appropriated in the budget.

He said the $18m from donors did not enter the state’s coffers.

On his part, the Benin Monarch, Oba Ewuare II, who was represented by Prince Aghatise Erediauwa, accused former Governor Godwin Obaseki of making efforts to hijack the processes of the returned artefacts.

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He accused former Minister of Information and Culture, Alhaji Lai Mohammed and a former Director General of National Commission for Museums and Monuments (NCMM) Albert Tijani, of fighting the Palace to defend the actions of the Legacy Restoration Trust (LRT).

Oba Ewuare II said the LRT was used to solicit funds abroad using his name.

The Benin Monarch said the Federal Government gazette, which recognised him as the custodian of the returned artefacts, made the LRT promoters realise that they were fighting a lost battle.

Chairman of the Ad hoc Committee, Hon Ade Isibor, expressed shock at the action of MOWAA.

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Hon. Isibor said the suit cited by MOWAA would not stop the Committee’s investigation, saying the Assembly and the Edo State Government were not involved in any litigation involving MOWAA.

According to him, “The powers of parliament to look into funds disbursed by the Executive is sacrosanct and cannot be taken away by any court.

“We are shocked that MOWAA did not attend sitting or come to give a verbal presentation. The Committee adopted the documentary evidence forwarded to us without by MOWAA.”

The lawmaker representing Edo North Senatorial District, Adams Oshiomhole, has criticised former Vice President Atiku Abubakar.

Speaking in an interview on Politics Today, a programme on Channels Television monitored by DAILY POST on Monday, Oshiomhole alleged that Atiku, who cannot fix his party, cannot fix Nigeria’s problems.

His comment comes after Atiku officially joined the African Democratic Congress, ADC.

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Atiku formally joined the ADC, the coalition-backed party, on Monday ahead of the 2027 general elections.

Reacting, Oshiomhole said, “If Atiku as a former vice president under PDP could not fix PDP, he could not reconstruct it, he could not provide leadership and use his influence which he had built, how can you lay claim to fix Nigeria.

“Former President Olusegun Obasanjo gave Atiku a lot of leverage, so much power, yet he couldn’t use it to fix the PDP,” Oshiomhole said.